25-U.S.C.-1481
§1481 – Loan Guaranties and Insurance
Pathway
Title 25 > Chapter 17 > Subchapter II > Section 1481
Details
- Reference: Section 1481
- Legend: §1481 – Loan Guaranties and Insurance
- USCode Year: 2013
Provision Content
(a) In general
In order to provide access to private money sources which otherwise would not be available, the Secretary may—
(1) guarantee not to exceed 90 per centum of the unpaid principal and interest due on any loan made to any organization of Indians having a form or organization satisfactory to the Secretary, and to individual Indians; or
(2) insure loans under an agreement approved by the Secretary whereby the lender will be reimbursed for losses in an amount not to exceed 15 per centum of the aggregate of such loans made by it, but not to exceed 90 per centum of the loss on any one loan.
(b) Eligible borrowers
The Secretary may guarantee or insure loans under subsection (a) to both for-profit and nonprofit borrowers.
(Pub. L. 93–262, title II, §201, Apr. 12, 1974, 88 Stat. 79; Pub. L. 98–449, §4, Oct. 4, 1984, 98 Stat. 1725; Pub. L. 109–221, title IV, §401(a), May 12, 2006, 120 Stat. 341.)
Amendments
2006—Pub. L. 109–221, §401(a)(1), (2), (4), inserted section catchline, designated existing provisions as subsec. (a) and inserted heading, substituted the Secretary may—
(1) guarantee
for Secretary is authorized (a) to guarantee, and added subsec. (b).
Pub. L. 109–221, §401(a)(3), which directed substitution of members; or
(2) insure
for members; and (b) in lieu of such guaranty, to insure, was executed by making the substitution for and (b) in lieu of such guaranty, to insure to reflect the probable intent of Congress and the amendment by Pub. L. 98–449. See 1984 Amendment note below.
1984—Pub. L. 98–449 struck out who are not members of or eligible for membership in an organization which is making loans to its members before ; and (b).
U.S. Encyclopedia of Law Coverage
25-U.S.C.-1453 in the Legal Encyclopedia: Indians
In this entry about 25-U.S.C.-1453, find legal reference material, bibliographies and premiere content related to indians in the American Encyclopedia of Law, presenting a comprehensive view of the United States indians-specific issues, written by authorities in the field.
20-U.S.C.-1099D in the Legal Encyclopedia: Loans
In this entry about 20-U.S.C.-1099D, find legal reference material, bibliographies and premiere content related to loans in the American Encyclopedia of Law, presenting a comprehensive view of the United States loans-specific issues, written by authorities in the field.
15-U.S.C.-6752 in the Legal Encyclopedia: Insurance
In this entry about 15-U.S.C.-6752, find legal reference material, bibliographies and premiere content related to insurance in the American Encyclopedia of Law, presenting a comprehensive view of the United States insurance-specific issues, written by authorities in the field.
25-U.S.C.-1467 in the Legal Encyclopedia: Indians Financing
In this entry about 25-U.S.C.-1467, find legal reference material, bibliographies and premiere content related to indians financing in the American Encyclopedia of Law, presenting a comprehensive view of the United States indians financing-specific issues, written by authorities in the field.
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