Sec. 5201. Eligibility for emergency loans
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Section 321(a) of the Consolidated Farm and Rural Development Act ( 7 U.S.C. 1961(a) ) is amended— by striking owner-operators (in the case of loans for a purpose under subtitle A) or operators (in the case of loans for a purpose under subtitle B) each place it appears and inserting (in the case of farm ownership loans in accordance with subtitle A) owner-operators or operators, or (in the case of loans for a purpose under subtitle B) operators ; by inserting after limited liability companies the 1st place it appears the following: , or such other legal entities as the Secretary deems appropriate ; by inserting after limited liability companies the 2nd place it appears the following: , or other legal entities ; by striking and limited liability companies, and inserting limited liability companies, and such other legal entities ; by striking ownership and operator and inserting ownership or operator ; and by adding at the end the following:
An entity that is an owner-operator or operator described in this subsection is deemed to meet the direct ownership requirement imposed under this subsection 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. 5201
Eligibility for emergency loans
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