Section 38-10-28 - Fee deducted when loan made by federal agency--Federal forms accepted in lieu of invoice

38-10-28. Fee deducted when loan made by federal agency--Federal forms accepted in lieu of invoice.In the case of a pledge or mortgage of wheat as security for a loan under the federal price support program, the fee assessed by §38-10-22 shall be deducted from the proceeds of such loans at the time the loans are made, or be deducted thereafter by agencies of the federal government, and producer's note and loan agreement (commodity loan Form B) or producer's note and supplemental loan agreement (commodity loan Form A) or delivery instructions (commodity purchaser Form 3) issued by the federal agency to the grower are hereby approved as fulfilling the requirements for invoices, and the forms herein approved shall be deemed to constitute proof of payment of such promotional fee on the wheat listed thereon. Source: SL 1961, ch 11, §12 (1).