1995 U.S. Code
Title 7 - AGRICULTURE
CHAPTER 49 - CONSULTATION ON AGRICULTURAL PROGRAMS
SUBCHAPTER I - REAL ESTATE LOANS
Sec. 1936 - Availability of farm ownership loans and loan guarantees for certain qualified beginning farmers and ranchers
View Metadata| Publication Title | United States Code, 1994 Edition, Supplement 1, Title 7 - AGRICULTURE |
| Category | Bills and Statutes |
| Collection | United States Code |
| SuDoc Class Number | Y 1.2/5: |
| Contained Within | Title 7 - AGRICULTURE CHAPTER 49 - CONSULTATION ON AGRICULTURAL PROGRAMS SUBCHAPTER I - REAL ESTATE LOANS Sec. 1936 - Availability of farm ownership loans and loan guarantees for certain qualified beginning farmers and ranchers |
| Contains | section 1936 |
| Date | 1995 |
| Laws in Effect as of Date | January 16, 1996 |
| Positive Law | No |
| Disposition | standard |
| Source Credit | Pub. L. 87-128, title III, §310F, as added Pub. L. 102-554, §7(b), Oct. 28, 1992, 106 Stat. 4146. |
| Statutes at Large Reference | 106 Stat. 4146 |
| Public Law References | Public Law 87-128, Public Law 102-554 |
§1936. Availability of farm ownership loans and loan guarantees for certain qualified beginning farmers and ranchers (a) Assistance prohibited for limited period
Except as otherwise provided in this section, if the Secretary approves the application of a qualified beginning farmer or rancher (referred to in this section as the “applicant”) for assistance under section 1948 of this title, the Secretary shall not make a loan under this subchapter to the applicant or provide a guarantee under section 1929(h) of this title with respect to any farm real estate loan made to the applicant.
(b) Availability of down payment loansAfter the applicable period, the Secretary may make an insured loan under this subchapter, or a down payment loan under section 1935 of this title, to an applicant if—
(1) throughout the applicable period, the applicant conducted an operation for which assistance is provided under section 1948 of this title in accordance with the plan for special assistance; and
(2) the applicant is otherwise eligible for the loan.
(c) Availability of loan guaranteesAfter the applicable period, the Secretary may guarantee under section 1929(h) of this title the repayment of a commercial or cooperative loan made to an applicant referred to in subsection (a) of this section if—
(1) throughout the applicable period, the applicant conducted the operation for which assistance is provided under section 1948 of this title in accordance with the plan for special assistance; and
(2) the applicant is otherwise eligible for the loan guarantee.
(d) “Applicable period” definedAs used in this section, the term “applicable period” means the first 5 years for which an applicant has operated a farm or ranch, including the period of time the applicant is provided assistance under section 1948 of this title.
(Pub. L. 87–128, title III, §310F, as added Pub. L. 102–554, §7(b), Oct. 28, 1992, 106 Stat. 4146.)
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