Storable Commodity Law and Legal Definition
“A commodity shall be considered storable upon determination by the Secretary that, in normal trade practice, it is stored for substantial periods of time and that it can be stored under the price-support program without excessive loss through deterioration or spoilage or without excessive cost for storage for such periods as will permit its disposition without substantial impairment of the effectiveness of the price-support program.” (7 USCS § 1428)
Legal Definition list
Related Legal Terms
- Affiliate of a Futures Commission Merchant, Commodity Trading Advisor, Commodity Pool Operator or Introducing Broker
- Agricultural Commodity
- Agricultural Commodity Cooperator
- Agricultural Commodity Producer
- Bulk Agricultural Commodity
- Carry-over of Nonbasic Agricultural Commodity
- Commercial Commodity
- Commodity
- Commodity Account
- Commodity Broker (Bankruptcy)
