7 U.S.C. § 7233
Section 7233 · Term of loans
Amended 1 time on record
(a) Term of loan
In the case of each loan commodity (other than upland cotton or extra long staple cotton), a marketing assistance loan under section 7231 of this title shall have a term of 9 months beginning on the first day of the first month after the month in which the loan is made.
(b) Special rule for cotton
A marketing assistance loan for upland cotton or extra long staple cotton shall have a term of 10 months beginning on the first day of the month in which the loan is made.
(c) Extensions prohibited
The Secretary may not extend the term of a marketing assistance loan for any loan commodity.