7-U.S.C.-950B

§950B – Borrower Net Worth

Pathway

Title 7 > Chapter 31 > Subchapter IV > Section 950b

Details

• Reference: Section 950b
• Legend: §950B – Borrower Net Worth
• USCode Year: 2013

Provision Content

Except as provided in subsection (b)(2) of section 948 of this title, notwithstanding any other provision of law, a loan shall not be made under section 922 of this title to any borrower which during the immediately preceding year had a net worth in excess of 20 per centum of its assets unless the Secretary finds that the borrower cannot obtain such a loan from the telephone bank or from other reliable sources at reasonable rates of interest and terms and conditions.

(May 20, 1936, ch. 432, title IV, §412, as added Pub. L. 92–12, §2, May 7, 1971, 85 Stat. 37; amended Pub. L. 103–354, title II, §235(a)(13), Oct. 13, 1994, 108 Stat. 3221.)

Amendments

1994—Pub. L. 103–354 substituted Secretary” for Administrator”.

Effective Date

Section effective May 7, 1971, see section 7 of Pub. L. 92–12, set out as a note under section 921a of this title.

U.S. Encyclopedia of Law Coverage

7-U.S.C.-945 in the Legal Encyclopedia: Agriculture

In this entry about 7-U.S.C.-945, 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.-946 in the Legal Encyclopedia: Rural

In this entry about 7-U.S.C.-946, find legal reference material, bibliographies and premiere content related to rural in the American Encyclopedia of Law, presenting a comprehensive view of the United States rural-specific issues, written by authorities in the field.

Topic Map

• Browse the Topic Map in relation with Title 7 (Agriculture) guided by subject interests.