2021 US Code
Title 7 - Agriculture
Chapter 50 - Agricultural Credit
Subchapter I - Real Estate Loans
Sec. 1929b - Purchase of guaranteed portions of loans; terms and conditions; exercise of authorities
7 U.S.C. § 1929b (2021) |
§1929b. Purchase of guaranteed portions of loans; terms and conditions; exercise of authorities |
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.) |
EDITORIAL NOTES
REFERENCES IN TEXT
This chapter, referred to in text, was in the original "this title", meaning title III of Pub. L. 87–128, Aug. 8, 1961, 75 Stat. 307, known as the Consolidated Farm and Rural Development Act, which is classified principally to this chapter. For complete classification of title III to the Code, see Short Title note set out under section 1921 of this title and Tables. |
United States Code, 2018 Edition, Supplement 3, Title 7 - AGRICULTURE |
Bills and Statutes |
United States Code |
Y 1.2/5: |
Title 7 - AGRICULTURE CHAPTER 50 - AGRICULTURAL CREDIT SUBCHAPTER I - REAL ESTATE LOANS Sec. 1929b - Purchase of guaranteed portions of loans; terms and conditions; exercise of authorities |
section 1929b |
2021 |
January 3, 2022 |
No |
standard |
75 Stat. 307 92 Stat. 424 |
Public Law 87-128, Public Law 95-334 |