Sec. 332.4. RELIEF FOR MOBILIZED MILITARY RESERVISTS FROM CERTAIN AGRICULTURAL LOAN OBLIGATIONS
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## SEC. 332.4 RELIEF FOR MOBILIZED MILITARY RESERVISTS FROM CERTAIN AGRICULTURAL LOAN OBLIGATIONS **[**[7 U.S.C. 1982](/us/usc/t7/s1982)**]** 4Former sec. 32 repealed by sec. 227(b)(1) of Public Law 103–354. ###
(a)Definition of Mobilized Military Reservist In this section, the term “**mobilized military reservist**” means an individual who— ####
(1)is on active duty under section 688, 12301(a), 12301(g), 12302, 12304, 12306, or 12406, or chapter 13 of title 10, United States Code, or any other provision of law during a war or during a national emergency declared by the President or Congress, regardless of the location at which the active duty service is performed; or ####
(2)in the case of a member of the National Guard, is on full-time National Guard duty (as defined in section 101(d)(5) of title 10, United States Code) under a call to active service authorized by the President or the Secretary of Defense for a period of more than 30 consecutive days under section 502(f) of title 32, United States Code, for purposes of responding to a national emergency declared by the President and supported by Federal funds. ###
(b)Forgiveness of Interest Payments Due While Borrower Is a Mobilized Military Reservist Any requirement that a borrower of a direct loan made under this title make any interest payment on the loan that would otherwise be required to be made while the borrower is a mobilized military reservist is rescinded. ###
(c)Deferral of Principal Payments Due While or After Borrower Is a Mobilized Military Reservist The due date of any payment of principal on a direct loan made to a borrower under this title that would otherwise be required to be made while or after the borrower is a mobilized military reservist is deferred for a period equal in length to the period for which the borrower is a mobilized military reservist. ###
(d)Nonaccrual of Interest Interest on a direct loan made to a borrower described in this section shall not accrue during the period the borrower is a mobilized military reservist. ###
(e)Borrower Not Considered To Be Delinquent or Receiving Debt Forgiveness Notwithstanding section 373 or any other provision of this title, a borrower who receives assistance under this section shall not, as a result of the assistance, be considered to be delinquent or receiving debt forgiveness for purposes of receiving a direct or guaranteed loan under this title.
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- Pub. L. 103-354
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Sec. 332.4
RELIEF FOR MOBILIZED MILITARY RESERVISTS FROM CERTAIN AGRICULTURAL LOAN OBLIGATIONS
Pub. L.Pub. L. 103-354
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