1421.416—Processing loan deficiency payments.

(a) DMAs shall take the following actions in the following order when an application for an LDP is filed:
(1) In addition to other determinations as must be made, the DMA shall determined whether the producer has sufficient remaining eligibility under the applicable payment limit to allow the receipt of the LDP. If there is not sufficient eligibility, the DMA must refuse to process the request;
(2) If EWRs are applicable for the peanuts for which the LDP is sought, the DMA must instruct the current holder to notify the EWR provider to amend the EWR to show that the peanuts were used to obtain an LDP;
(3) The DMA must insure that the producer or the person holding the power of attorney for the producer signs the LDP documents; and
(4) If the peanuts and the producer are eligible for the loan and all other conditions have been met, the DMA may disburse funds to the producer subject to the time limits set out elsewhere in this part.
(b) The LDP rate applicable to the LDP request will be the rate in effect on the date the DMA receives the request except as may otherwise be provided for in this part.

Code of Federal Regulations

[70 FR 33799, June 10, 2005. Redesignated at 74 FR 15656, Apr. 7, 2009]