§ 1484. Application for loan; approval by Secretary; issuance of certificate; limitations on amount of loans to individual Indians or economic enterprises; review by Secretary
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The application for a loan to be guaranteed hereunder shall be submitted to the Secretary for approval. The Secretary may review each loan application individually and independently from the lender. Upon approval, the Secretary shall issue a certificate as evidence of the guaranty. Such certificate shall be issued only when, in the judgment of the Secretary, there is a reasonable prospect of repayment. No loan to an individual Indian may be guaranteed or insured which would cause the total unpaid principal indebtedness to exceed $500,000.
No loan to an economic enterprise (as defined in section 1452 of this title) in excess of $250,000, or such lower amount as the Secretary may determine to be appropriate, shall be insured unless prior approval of the loan is obtained from the Secretary.
(Pub. L. 93–262, title II, § 204, Apr. 12, 1974, 88 Stat. 79; Pub. L. 98–449, § 5, Oct. 4, 1984, 98 Stat. 1725; Pub. L. 100–442, § 1, Sept. 22, 1988, 102 Stat. 1763; Pub. L. 101–644, title III, § 303(b), Nov. 29, 1990, 104 Stat. 4668; Pub. L. 107–331, title I, § 103(a), Dec. 13, 2002, 116 Stat. 2836.)
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Cited by 6 sections
statutes-at-large
- Public Law 93–262
- Public Law 98–449To reauthorize and amend the Indian Financing Act
- Public Law 101–644To expand the powers of the Indian Arts and Crafts Board, and for other purposes
- Public Law 107–331To amend the Indian Financing Act of 1974 to improve the effectiveness of the Indian loan guarantee and insurance program
- Public Law 100–442To amend the Indian Financing Act of 1974, and for other purposes
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- Pub. L. 93–262, title II, § 204
- 88 Stat. 79
- Pub. L. 98–449, § 5
- 98 Stat. 1725
- Pub. L. 100–442, § 1
- 102 Stat. 1763
- Pub. L. 101–644, title III, § 303(b)
- 104 Stat. 4668
- Pub. L. 107–331, title I, § 103(a)
- 116 Stat. 2836
- Pub. L. 107–331
- Pub. L. 101–644
- Pub. L. 100–442
- Pub. L. 98–449
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§ 1484
Application for loan; approval by Secretary; issuance of certificate; limitations on amount of loans to individual Indians or economic enterprises; review by Secretary
Stat.×5
Fed. Reg.×1
Pub. L.Pub. L. 93–262, title II, § 204
Stat.88 Stat. 79
Pub. L.Pub. L. 98–449, § 5
Stat.98 Stat. 1725
Pub. L.Pub. L. 100–442, § 1
Cites 15 · showing 6Cited by 6 across 2 sources