Page:United States Statutes at Large Volume 100 Part 1.djvu/90

 100 STAT. 54

Insurance. Insurance.

99 Stat. 1447. 7 USC 1433c.

Ante, p. 36.

Regulations.

PUBLIC LAW 99-260—MAR. 20, 1986 (5) Advance recourse loans shall be made available as needed solely to cover costs involved in the production of the 1986 crop that are incurred or are outstanding on or after the date of enactment of this section. (6) To obtain an advance recourse loan, the producer on a farm must— (A) provide as security for the loan a first lien on the crop covered by the loan or provide such other security as may be available to the producer and determined by the Secretary to be adequate to protect the Government's interests; and (B) obtain multiperil crop insurance, if available, to protect the crop that serves as security for the loan. If a producer does not have multiperil crop insurance and is located in a county in which the signup period for multiperil crop insurance has expired, the producer shall be required to obtain other crop insurance, if available. (7) The total amount in advance recourse loans that may be made to a producer under section 424 may not exceed $50,000. (8) An advance recourse loan may be made available only to a producer who agrees to comply with such other terms and conditions determined appropriate by the Secretary and consistent with the provisions of section 424. 03) The Secretary shall carry out the program provided for under section 424 through the Commodity Credit Corporation, using the services of the Agricultural Stabilization and Conservation Service and the county committees established under section 80b) of the Soil Conservation and Domestic Allotment Act (16 U.S.C. 590h0))) to make determinations of eligibility with respect to the credit test under subsection (a)(1), and determinations as to the sufficiency of security under subsection (a)(6). The Secretary may use such committees for such other purposes as the Secretary determines appropriate in carrying out section 424. (c) It is further the sense of Congress that the Secretary of Agriculture issue or, as appropriate, amend regulations to implement any program established under section 424 as soon as practicable, but not later than 15 days after the date of enactment of this Act. Loans and other assistance provided under such program shall be made available beginning on the date such regulations are issued or amended. SEC.

14. TRANSFER OF AGRICULTURAL WAREHOUSES.

PRODUCTS

STORED

IN

Section 17 of the United States Warehouse Act (7 U.S.C. 259) is amended— (1) by striking out "That" and inserting in lieu thereof "(a) Except as provided in subsection (b),"; and (2) by adding at the end thereof the following new subsection: "(h)(1) Notwithstanding any other provision of this Act, if a warehouseman because of a temporary shortage lacks sufficient space to store the agricultural products of all depositors in a licensed warehouse, the warehouseman may, in accordance with regulations issued by the Secretary of Agriculture and subject to such terms and conditions as the Secretary may prescribe, transfer stored agricultural products for which receipts have been issued out of such warehouse to another licensed warehouse for continued storage.

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