Sec. 5101. Eligibility for farm operating loans
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/bill/113/hr/2642/eah/section-5101A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 311(a) of the Consolidated Farm and Rural Development Act ( 7 U.S.C. 1941(a) ) is amended— by striking
(a)and inserting the following: In general.— The The ; in the 1st sentence, by inserting after limited liability companies the following: , and such other legal entities as the Secretary deems appropriate, ; in the 2nd sentence, by redesignating clauses
(1)through
(4)as clauses
(A)through (D), respectively; in each of the 2nd and 3rd sentences, by striking and limited liability companies each place it appears and inserting limited liability companies, and such other legal entities ; in the 3rd sentence, by striking
(3)and
(4)and inserting
(C)and
(D), respectively; and by adding at the end the following: An entity that is an operator described in paragraph
(1)that is owned, in whole or in part, by other entities, is deemed to meet the direct ownership requirement imposed under paragraph
(1)if at least 75 percent of the ownership interests of each embedded entity of such entity is owned directly or indirectly by the individuals that own the family farm. .
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Sec. 5101
Eligibility for farm operating loans
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