§ 615.5045. Definitions.
74 words·~1 min read·
/us/cfr/t12/s§ 615.5045·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)Cost means the actual amount paid for any asset.
(b)Market value means the price at which a willing seller would sell to a willing buyer, neither under any compulsion to buy or sell.
(c)Unpaid balance means total principal and accrued interest owed.
(d)Secured interbank loan means a loan from one Farm Credit System bank to another Farm Credit System bank, secured by assets of the borrowing Farm Credit System bank.