§1427.167. Liens.
7 C.F.R. § 1427.167
If there are any liens or encumbrances on the seed cotton tendered as collateral for a loan, waivers that fully protect the interest of CCC must be obtained even though the liens or encumbrances are satisfied from the loan proceeds. No additional liens or encumbrances shall be placed on the cotton after the loan is approved.
Notes, amendments, and revision history
Source
Source: 67 FR 64459, Oct. 18, 2002, unless otherwise noted.
Authority
Authority: 7 U.S.C. 7231-7237, 7931-7936, 9011, and 9031-40, 15 U.S.C. 714b and c.