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Code · STATUTE-COMPILATIONS · Agricultural Credit Act of 1987 · Sec. 503

Sec. 503. PARTICIPATION OF FEDERAL AGENCIES

223 words·~1 min read·/statute-compilations/comps-12449/sec-503

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## SEC. 503 PARTICIPATION OF FEDERAL AGENCIES **[**[7 U.S.C. 5103](/us/usc/t7/s5103)**]** ###
(a)Duties of the Secretary of Agriculture ####
(1)In general The Secretary, with respect to each program or agency under the jurisdiction of the Secretary— #####
(A)shall prescribe rules requiring each such program or agency to participate in good faith in any State mediation program certified under section 501; #####
(B)shall participate in mediation programs certified under section 501; and #####
(C)shall— ######
(i)cooperate in good faith with requests for information or analysis of information made in the course of mediation under any mediation program certified under section 501; and ######
(ii)if applicable, present and explore debt restructuring proposals advanced in the course of such mediation. ####
(2)Nonbinding on Secretary The Secretary shall not be bound by any determination made in a program described in section 501 if the Secretary has not agreed to such determination. ###
(b)Duties of the Farm Credit Administration The Farm Credit Administration shall prescribe rules requiring the institutions of the Farm Credit System— ####
(1)to cooperate in good faith with requests for information or analysis of information made in the course of mediation under any mediation program described in section 501; and ####
(2)to present and explore debt restructuring proposals advanced in the course of such mediation.
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Sec. 503
PARTICIPATION OF FEDERAL AGENCIES
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