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Wednesday, September 21, 1949
47 Stat. 416; sec. 14, 58 Stat. 390; 6
U. S. C. 669, 863
c Commission determinations of qualifications for specific positions, in the consideration of appeals under regula tions in this part, shall be on the basis of all available facts concerning such qualifications.
Secs. 11 and 19, 58 Stat. 390, 391; 5
U. S. C. 860, 868
seal
U nited S tates Civil S erv ice Commission , H arry B. M itchell,
Chairman.
F. R. Doc. 49-7582; Piled, Sept. 20, 1949;
8:48 a. m.

TITLE 6 AGRICULTURAL CREDIT
Chapter IV Production and Market, . ing Administration and Commodity Credit Corporation, Department of Agriculture Subchapter C Loans, Purchases, and Other Operations
1949 C. C. C. Peanut Bulletin 1J

P art 646P eanuts SUBPART 1949 PRODUCER LOANS

This bulletin states the requirements with respect to producer loans under the 1949 Crop Peanut Price Support Program formulated by Commodity Credit Corpo ration hereinafter referred to as CCC
and the Production and Marketing Ad ministration hereinafter referred to as PMA . Loans will be available to pro ducers in accordance with this bulletin on eligible peanuts produced in 1949. The program will be carried out by PMA un der the general supervision and direction of the Manager, CCC.
Sec.
646.101
646.102
646.103
646.104
646.105
646.106
646.107
646.108
646.109
646.110
646.111
646.112
646.113
646.114
646.115
646.116
646.117
646.118

Administration.
Availability of loans.
Approved lending agencies.
Eligible producer and eligible pea nuts.
Approved storage.
Approved forms.
Loan rates.
Determination of grade and quan tity.
Liens.
Service fees.
Set-offs.

Interest rate.
Transfer of producers equity.
Insurance.
Loss or damage to the peanuts.
Personal liability.
Maturity and satisfaction.
Removal and release of the peanuts under loan.
646.119 Purchase of notes.
646.120 PMA Commodity Offices.
Authority : 646.101 to 646.120 issued under sec. 4 d, Pub. Law 806, 80th Cong.:
interpret or apply sec. 5 a, Pub. Law 806, 80th Cong., sec. 1 a, Pub. Law 897, 80th Cong.

646.101 Administration. I n t h e field, the program will be administered through State PMA committees, county agricultural conservation committees hereinafter referred to as county com mittees and PMA commodity offices.
Forms will be distributed through the offices of State and county committees.
County committees will determine or
FEDERAL REGISTER

5755

cause to be determined the eligibility of 2 The beneficial interest in the pea the producer; the eligibility, quantity and nuts must be in the person tendering the grade of the peanuts; the amount of the peanuts for a loan, and must have al loan; and the value of the peanuts de ways been in him or must have been in livered under a loan. All loan documents him and a former producer whom he suc will be completed and approved by the ceeded before the peanuts were har county committee which will retain copies vested.
of all such documents. The county com 3 The peanuts must be merchant mittee may designate in writing certain able farmers stock peanuts, containing employees of the county agricultural less than 5 percent damaged kernels.
conservation association to execute on The term merchantable farmers stock behalf of the committee any forms and peanuts means peanuts in the shell documents in connection with this pro which contain not in excess of 9 Via per gram.
cent moisture in the Southeastern and Southwestern areas and not in excess of 646.102 Availability of loansa Area. Loans shall be available on eligi IOV2 percent moisture in the Virginiable peanuts as of August 1, 1949, in ap Carolina area, which have been produced in the continental United States, and proved farm storage in all areas.
b Time. Loans shall be available which have not been cleaned, shelled, from August 1,1949, through January 31, crushed or otherwise changed from their 1950. Notes and chattel mortgages must natural state after picking or threshing.
be signed by the producer and delivered 646.105 Approved s t o r a g e . Ap to the county committee on or before proved farm storage consists of struc January 31, 1950.
tures located either on or off the farm c Source. Loans will be made avail provided no warehouse receipts are out able through the offices of county com standing which, as determined by the mittees. Disbursements on loans will be County Committee, are of such construc made to producers by State PMA offices tion as will afford safe storage of the by means of sight drafts drawn on CCC, peanuts. The structure must be sub or by approved lending agencies under stantial, dry and well-ventilated. A pro agreement with CCC. Disbursements on ducer who places farm storage peanuts loans will be made not later than Febru under loan is obligated to maintain the ary 15,1950, except where specifically ap farm storage structure in good repair proved by the Director, Fats and Oils and to keep the peanuts in good condi Branch, in each instance.
tion.
646.103 Approved lending agencies.
646.106 Approved forms. The ap An approved lending agency shall be any proved forms consist of the Producers bank, cooperative marketing association, Note on Commodity Loan Form A, se corporation, partnership, individual, or cured by a chattel mortgage on Com other legal entity with which CCC has modity Loan Form AA, which, together entered into a lending agency agreement with the provisions of this bulletin and Form PMA-97 or other form prescribed any supplements or amendments thereto, by CCC, or loan servicing agreement.
govern the rights and responsibilities of 646.104 Eligible producer and eligi the producer. Notes and chattel mort ble peanutsa Eligible producer. An gages must have State and documentary eligible producer shall be any individual, revenue stamps affixed thereto where re partnership, association, corporation, or quired by law. Loan documents exe other legal entity who, as landowner, cuted by an administrator, executor, or landlord, tenant, or sharecropper is en trustee, will be acceptable only where titled to share in the peanuts produced legally valid.
in 1949 on a farm on which there is no 646.107 Loan rates. The basic rate excess acreage.
of the loan on eligible peanuts is 10.53
The term excess acreage means the cents per pound, which is 90% of parity acreage by which the farm peanut acre as of August 1,1949. Specific loan rates, age exceeds the farm allotment, but there based on type, grade, quality, and mois will be no excess acreage if the farm pea ture content, are shown in Supplement 1
nut acreage is 1.0 acres or less.
to this bulletin. No premium will be The term farm peanut acreage allowed for extra large kernels in Vir means the acreage on the farm planted ginia type peanuts.
topeanuts in 1949, as determined by the 646.108 Determination of grade and county committee, less any such acre age with respect to which it is estab quantitya Determination of grade.
lished by the farm operator or otherwise, The grade will be determined by a Fed to the satisfaction of the county commit eral or Federal-State inspector on the tee, that the entire production therefrom basis of a sample taken by the county has not and cannot be picked or threshed committee. Factors considered in deter either before or after marketing from the mining the grade of peanuts are percent farm.
age of sound mature kernel content, The execution of form Peanut 116, moisture content, the percentage of dam Agreement by Operator of Overplanted age, and the foreign material content.
Farm as provided in 646.143 of 1949
b Determination of quantity. The CCC Peanut Bulletin 3, does not make quantity shall be the net weight gross any producer on the farm eligible for weight less foreign material of peanuts a loan under this bulletin.
at the time they are placed under the b Eligible peanuts. Eligible peanuts loan. If the peanuts are stored in bags shall be peanuts which meet the follow the County Committee will weigh a suffi ing requirements.
cient number of bags to determine the 1
The peanuts must be of the 1949 gross weight of peanuts to be placed un crop and must be produced by an eligible der the loan. The gross weight of pea producer.
nuts in bulk storage will be determined