§1220.110. First purchaser.
7 C.F.R. § 1220.110
The term first purchaser means—
except as provided in paragraph (b) of this section, any person buying or otherwise acquiring from a producer soybeans produced by such producer; or
In any case in which soybeans are pledged as collateral for a loan issued under any Commodity Credit Corporation price support loan program and the soybeans are forfeited by the producer in lieu of loan repayment, the Commodity Credit Corporation.
Notes, amendments, and revision history
Amendments
[56 FR 31049, July 9, 1991, as amended at 56 FR 42923, Aug. 30, 1991; 57 FR 31095, July 14, 1992]
Source
Source: 56 FR 31049, July 9, 1991, unless otherwise noted.
Authority
Authority: 7 U.S.C. 6301-6311 and 7 U.S.C. 7401.
Amendments
[56 FR 31049, July 9, 1991, as amended at 56 FR 42923, Aug. 30, 1991; 57 FR 31095, July 14, 1992]