1421.14—Obtaining peanut loans.
(a)
Peanuts loans to individual producers may be obtained through:
(2)
A designated Marketing Association or a CMA approved by CCC.
(b)
The loan documents shall not be presented for disbursement unless the peanuts pledged as collateral for the marketing assistance loan is eligible in accordance with § 1421.8. If the peanuts were ineligible at the time of the disbursement, the total amount disbursed under loan, or as an LDP, plus charges and interest shall be refunded promptly.