Page:United States Statutes at Large Volume 62 Part 1.djvu/1285

 80TH CONG. , 2D SESS. -CH. 827-JULY 3,1948 "(1) A 'cooperator' with respect to any basic agricultural com- "ooperator." modity shall be a producer on whose farm the acreage planted to the commodity does not exceed the farm acreage allotment for the commodity under this title, or, in the case of price support for corn to a producer outside the commercial corn-producing area, a producer who complies with conditions of eligibility prescribed by the Secretary. For the purposes of this subsection a producer shall not be deemed to have exceeded his farm acreage allotment unless such producer knowingly exceeded such allotment. "(2) A 'basic agricultural commodity' shall mean any of the cOBasi,,gricultura commodities cotton, wheat, corn, tobacco, rice, and peanuts ofommodity. a crop harvested after December 31, 1949. "(3) A 'nonbasic agricultural commodity' shall mean any "Nonbmaiodiagr agricultural commodity other than a basic agricultural commodity. "(g) No producer shall be personally liable for any deficiency aris- ,aicity for defi - ing from the sale of the collateral securing any loan made under authority of this section unless such loan was obtained through fraudu- lent representations by the producer. This provision shall not, how- ever, be construed to prevent Commodity Credit Corporation or the Secretary from requiring producers to assume liability for deficiencies in the grade, quality, or quantity of commodities stored on the farm or delivered by them, for failure properly to care for and preserve com- modities, or for failure or refusal to deliver commodities in accordance with the requirements of the program. "(h) The Commodity Credit Corporation shall not sell any farm mste of f comm - commodity owned or controlled by it at less than (1) a price determined ity Credit Corpora- on a pricing basis for its stocks of such commodity on hand, which t pri makes due allowance for grade, type, quality, location, and other factors and which is reasonably calculated to reimburse it for costs incurred by it with respect to such stocks; (2) a price halfway between the support price, if any, and the parity price of such commodity; or (3) a price equivalent to 90 per centum of the parity price of such commodity, whichever price is the lowest, except that the foregoing restrictions shall not apply to (A) sales for new or byproduct uses; (B) sales of peanuts for the extraction of oil; (C) sales for seed or feed if such sales will not substantially impair any price-support program; (D) sales of commodities which have substantially deteriorated in quality or of nonbasic perishable commodities where there is danger of loss or waste through spoilage; (E) sales for the purpose of estab- lishing claims against persons who have committed fraud, misrepre- sentation, or other wrongful acts with respect to the commodity; (F) sales for export; (G) sales of wool; and (H) sales for other than primary uses." (b) Section 381 (c) of the Agricultural Adjustment Act of 1938 7 U. Stc.' (c) is repealed. Supp. I, 1381 note. MARKETING QUOTAS CORN SEC. 203. (a) The first sentence of section 322 (a) of the Agricultural Prclamation by Adjustment Act of 1938 is amended to read as follows: 52 tat.c49 1322 (a). "Whenever in any calendar year the Secretary determines- " (1) that the total supply of corn for the marketing year begin- ning m such calendar year will exceed the normal supply for such marketing year by more than 20 per centum; or "(2) that the total supply of corn for the marketing year end- ing in such calendar year is not less than the normal supply for the marketing year so ending, and that the average farm price for corn for three successive months of the marketing year so ending does not exceed 66 per centum of parity the Secretary shall, not later than November 15 of such calendar year, 62 STAT.] 1255

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