Chapter 120. Defining the crop failure in the production of wheat, rye, or oats by those who borrowed money from the Government of the United States in the years 1918 and 1919 for the purchase of wheat, rye, or oats for seed, and for other purposes
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CHAP. 120.— An Act Defining the crop failure in the production of wheat, rye, or oats by those who borrowed money from the Government of the United States in the years 1918 and 1919 for the purchase of wheat, rye, or oats for seed, and for other purposes. February 26, 1923.[[S. 2023](/us/bill/67/s/2023).][[Public, No. 447](/us/pl/67/447).] *Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled*,Crop failure, 1918, 1919.Yield of wheat, etc., by borrowers from Government deemed.Payment released.*Post*, p. 1819.
That a yield of five bushels or less per acre of wheat, rye, or oats on lands owned by those in the drought-stricken regions who borrowed money from the Government of the United States in the years 1918 and 1919 for the purchase of wheat, rye, or oats for seed be, and the same is hereby, declared to be a failure, and the borrower whose yield was five bushels or less per acre be, and he is hereby, released from repayment of the amount borrowed by him from the Government: *Provisos*.Signers of guaranty-fund agreement excepted.*Provided*, That nothing herein shall release the borrower who signed a guaranty-fund agreement and whose crop was not a failure from making the contribution provided for in such agreement, but said guaranty fund shall be used as stipulated in the agreement to the settlement of the loans to those whose crop was a failure: *Provided further*, Reimbursement for money paid.That any such borrower whose crop was a failure, as herein defined, and who made payment on his loan prior to May 31, 1920, shall be fully reimbursed from such guaranty fund.
Approved, February 26, 1923.