7-U.S.C.-1929B

§1929B – Purchase of Guaranteed Portions of Loans; Terms and Conditions; Exercise of Authorities

Pathway

Title 7 > Chapter 50 > Subchapter I > Section 1929b

Details

• Reference: Section 1929b
• Legend: §1929B – Purchase of Guaranteed Portions of Loans; Terms and Conditions; Exercise of Authorities
• USCode Year: 2013

Provision Content

The Secretary may purchase, on such terms and conditions as the Secretary deems appropriate, the guaranteed portion of any loan guaranteed under this chapter: Provided, That the Secretary may not pay for any such guaranteed portion of a loan in excess of an amount equal to the unpaid principal balance and accrued interest on the guaranteed portion of the loan. The Secretary may use for such purchases funds from the Rural Development Insurance Fund with respect to rural development loans as defined in section 1929a(a) of this title and funds from the Agricultural Credit Insurance Fund with respect to all other loans under this chapter. This authority may be exercised only if the Secretary determines that an adequate secondary market is not available in the private sector.

(Pub. L. 87–128, title III, §309B, as added Pub. L. 95–334, title I, §111, Aug. 4, 1978, 92 Stat. 424.)

References in Text

For definition of this chapter”, referred to in text, see note set out under section 1921 of this title.

U.S. Encyclopedia of Law Coverage

7-U.S.C.-1922 in the Legal Encyclopedia: Agriculture

In this entry about 7-U.S.C.-1922, find legal reference material, bibliographies and premiere content related to agriculture in the American Encyclopedia of Law, presenting a comprehensive view of the United States agriculture-specific issues, written by authorities in the field.

7-U.S.C.-1929B in the Legal Encyclopedia: Loans

In this entry about 7-U.S.C.-1929B, 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.

7-U.S.C.-1929-1 in the Legal Encyclopedia: Agricultural Credit

In this entry about 7-U.S.C.-1929-1, find legal reference material, bibliographies and premiere content related to agricultural credit in the American Encyclopedia of Law, presenting a comprehensive view of the United States agricultural credit-specific issues, written by authorities in the field.

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