25-U.S.C.-1484
§1484 – Application For Loan; Approval By Secretary; Issuance of Certificate; Limitations On Amount of Loans to Individual Indians Or Economic Enterprises; Review By Secretary
Pathway
Title 25 > Chapter 17 > Subchapter II > Section 1484
Details
- Reference: Section 1484
- Legend: §1484 – Application For Loan; Approval By Secretary; Issuance of Certificate; Limitations On Amount of Loans to Individual Indians Or Economic Enterprises; Review By Secretary
- USCode Year: 2013
Provision Content
The application for a loan to be guaranteed hereunder shall be submitted to the Secretary for approval. The Secretary may review each loan application individually and independently from the lender. Upon approval, the Secretary shall issue a certificate as evidence of the guaranty. Such certificate shall be issued only when, in the judgment of the Secretary, there is a reasonable prospect of repayment. No loan to an individual Indian may be guaranteed or insured which would cause the total unpaid principal indebtedness to exceed $500,000. No loan to an economic enterprise (as defined in section 1452 of this title) in excess of $250,000, or such lower amount as the Secretary may determine to be appropriate, shall be insured unless prior approval of the loan is obtained from the Secretary.
(Pub. L. 93–262, title II, §204, Apr. 12, 1974, 88 Stat. 79; Pub. L. 98–449, §5, Oct. 4, 1984, 98 Stat. 1725; Pub. L. 100–442, §1, Sept. 22, 1988, 102 Stat. 1763; Pub. L. 101–644, title III, §303(b), Nov. 29, 1990, 104 Stat. 4668; Pub. L. 107–331, title I, §103(a), Dec. 13, 2002, 116 Stat. 2836.)
Amendments
2002—Pub. L. 107–331 substituted $250,000 for $100,000.
1990—Pub. L. 101–644 struck out prior before approval in first sentence and substituted may review for shall review in second sentence.
1988—Pub. L. 100–442 substituted $500,000 for $350,000.
1984—Pub. L. 98–449 substituted $350,000 for $100,000, and inserted after first sentence The Secretary shall review each loan application individually and independently from the lender.
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.
25-U.S.C.-1482 in the Legal Encyclopedia: Loans
In this entry about 25-U.S.C.-1482, 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.
25-U.S.C.-1484 in the Legal Encyclopedia: Insurance
In this entry about 25-U.S.C.-1484, 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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