2018 US Code
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
| 25 U.S.C. § 1493 (2018) |
| §1493. Loan refusal; conditions; prohibition against acquisition of additional loans; payment of claims on loans made in good faith |
|
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. |
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(Pub. L. 93–262, title II, §213, Apr. 12, 1974, 88 Stat. 81.) |
| United States Code, 2018 Edition, Title 25 - INDIANS |
| Bills and Statutes |
| United States Code |
| Y 1.2/5: |
| 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 |
| section 1493 |
| 2018 |
| January 14, 2019 |
| No |
| standard |
| 88 Stat. 81 |
| Public Law 93-262 |
