Okla. Stat. tit. 2, § 2-18-310
This is the official text of Okla. Stat. tit. 2, § 2-18-310, part of Oklahoma’s Stat. tit. 2, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 2,." Browse the sections below, each linked to its official government source.
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Pledge or mortgage of wheat - Deduction of fee
Official statutory text
A. In the case of a pledge or mortgage of wheat as security for
a loan under the federal price support program, the promotional fee
levied pursuant to the provisions of the Oklahoma Wheat Resources
Act shall be deducted from the proceeds of such loans at the time
the loans are made, or shall be deducted thereafter by agencies of
the federal government. Any producer’s note and loan agreement or
producer’s note and supplemental loan agreement or delivery
instructions issued by the federal agency to the producer are hereby
approved as fulfilling the requirements for invoices, and such forms
shall be deemed to constitute proof of payment of the promotional
fee on the wheat listed thereon.
B. Supplemental or alternate forms which may be proposed by the
Commodity Credit Corporation and contained the necessary information
may be used without revision of the Oklahoma Wheat Resources Act.
C. The Commodity Credit Corporation's use of identification
numbers in lieu of the name of the producer from whom the fee was
collected is hereby approved, provided that authorized officials of
Oklahoma Statutes - Title 2. Agriculture Page 666
the State of Oklahoma will have access at all reasonable times to
records in the county agricultural stabilization and conservation
offices showing the names of producers to whom such identification
numbers have been assigned.
D. If pledged or mortgaged wheat, described in subsection A of
this section, remains in farm storage for the duration of the pledge
or mortgage, the promotional fee so paid at the time the loan was
made shall be deemed a complete satisfaction of the fee liability
unless upon subsequent actual delivery of the wheat from farm
storage in satisfaction of the pledge, or mortgage in the amount of
One Dollar ($1.00) or more, such underpayment being due solely for
the necessity of estimating the quantity of wheat so placed in farm
storage.
E. In connection with the collection of the wheat promotional
fee on Commodity Credit Corporation wheat loans disbursed and
purchase agreement settlement made, undercollections or
overcollections of the wheat promotional fee amounting to One Dollar
($1.00) or less as a result of errors, will not require collection
of the underpayment or refund of the overpayment by Commodity Credit
Corporation and their responsibility in such cases shall be waived.
a loan under the federal price support program, the promotional fee
levied pursuant to the provisions of the Oklahoma Wheat Resources
Act shall be deducted from the proceeds of such loans at the time
the loans are made, or shall be deducted thereafter by agencies of
the federal government. Any producer’s note and loan agreement or
producer’s note and supplemental loan agreement or delivery
instructions issued by the federal agency to the producer are hereby
approved as fulfilling the requirements for invoices, and such forms
shall be deemed to constitute proof of payment of the promotional
fee on the wheat listed thereon.
B. Supplemental or alternate forms which may be proposed by the
Commodity Credit Corporation and contained the necessary information
may be used without revision of the Oklahoma Wheat Resources Act.
C. The Commodity Credit Corporation's use of identification
numbers in lieu of the name of the producer from whom the fee was
collected is hereby approved, provided that authorized officials of
Oklahoma Statutes - Title 2. Agriculture Page 666
the State of Oklahoma will have access at all reasonable times to
records in the county agricultural stabilization and conservation
offices showing the names of producers to whom such identification
numbers have been assigned.
D. If pledged or mortgaged wheat, described in subsection A of
this section, remains in farm storage for the duration of the pledge
or mortgage, the promotional fee so paid at the time the loan was
made shall be deemed a complete satisfaction of the fee liability
unless upon subsequent actual delivery of the wheat from farm
storage in satisfaction of the pledge, or mortgage in the amount of
One Dollar ($1.00) or more, such underpayment being due solely for
the necessity of estimating the quantity of wheat so placed in farm
storage.
E. In connection with the collection of the wheat promotional
fee on Commodity Credit Corporation wheat loans disbursed and
purchase agreement settlement made, undercollections or
overcollections of the wheat promotional fee amounting to One Dollar
($1.00) or less as a result of errors, will not require collection
of the underpayment or refund of the overpayment by Commodity Credit
Corporation and their responsibility in such cases shall be waived.
Status: in_force · Read it on the official government site
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