2014 US Code
Title 25 - Indians (Sections 1 - 4307)
Chapter 17 - Financing Economic Development of Indians and Indian Organizations (Sections 1451 - 1544)
Subchapter II - Loan Guaranty and Insurance (Sections 1481 - 1499)
Sec. 1493 - Loan refusal; conditions; prohibition against acquisition of additional loans; payment of claims on loans made in good faith
| Publication Title | United States Code, 2012 Edition, Supplement 2, Title 25 - INDIANS |
| Category | Bills and Statutes |
| Collection | United States Code |
| SuDoc Class Number | Y 1.2/5: |
| Contained Within | Title 25 - INDIANS CHAPTER 17 - FINANCING ECONOMIC DEVELOPMENT OF INDIANS AND INDIAN ORGANIZATIONS SUBCHAPTER II - LOAN GUARANTY AND INSURANCE Sec. 1493 - Loan refusal; conditions; prohibition against acquisition of additional loans; payment of claims on loans made in good faith |
| Contains | section 1493 |
| Date | 2014 |
| Laws In Effect As Of Date | January 5, 2015 |
| Positive Law | No |
| Disposition | standard |
| Source Credit | Pub. L. 93-262, title II, §213, Apr. 12, 1974, 88 Stat. 81. |
| Statutes at Large Reference | 88 Stat. 81 |
| Public and Private Law | Public Law 93-262 |
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Whenever the Secretary finds that any lender or holder of a guaranty certificate fails to maintain adequate accounting records, or to demonstrate proper ability to service adequately loans guaranteed or insured, or to exercise proper credit judgment, or has willfully or negligently engaged in practices otherwise detrimental to the interests of a borrower or of the United States, he may refuse, either temporarily or permanently, to guarantee or insure any further loans made by such lender or holder, and may bar such lender or holder from acquiring additional loans guaranteed or insured hereunder: Provided, That the Secretary shall not refuse to pay a valid guaranty or insurance claim on loans previously made in good faith.
(Pub. L. 93–262, title II, §213, Apr. 12, 1974, 88 Stat. 81.)
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