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Is the money that the federal government pad Bean not to grow crops proceeds ------------------------------------------------------------------------------------------------------------------------------------------------ Question: Farmers' Friend Credit Association loaned Farmer Bean money secured

Is the money that the federal government pad Bean not to grow crops proceeds

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Question: Farmers' Friend Credit Association loaned Farmer Bean money secured by his crops. In 2011 the federal government paid Bean not to grow any crops that year.

  • Question: Is the government payment the "proceeds" of the crop?

I think this is the answer: I would say yes because of 9-315. A SI attaches to any identifiable proceeds of collateral. Bean received a check from the federal government. The check is considered proceeds. Am I correct or incorrect?

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