§ 5136. Loans to purchasers of highly fractioned land
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/usc/title-25/section-5136A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)In general The Secretary of Agriculture is authorized to make direct loans in a manner consistent with direct loans pursuant to subtitle D of the Consolidated Farm and Rural Development Act (7 U.S.C. 1981 et seq.), to any Indian tribe recognized by the Secretary of the Interior or tribal corporation established pursuant to the Indian Reorganization Act (25 U.S.C. 477),1 which does not have adequate uncommitted funds, to acquire lands or interests therein within the tribe’s reservation as determined by the Secretary of the Interior, or within a community in Alaska incorporated by the Secretary pursuant to the Indian Reorganization Act [25 U.S.C. 5101 et seq.], for use of the tribe or the corporation or the members of either. Such loans shall be limited to such Indian tribes or tribal corporations as have reasonable prospects of success in their proposed operations and as are unable to obtain sufficient credit elsewhere at reasonable rates and terms to finance the purposes authorized in sections 5136 to 5143 of this title.
(b)Highly fractionated land
(1)In general Subject to paragraph (2), the Secretary of Agriculture may make and insure loans in accordance with section 1929 of title 7 to eligible purchasers of highly fractionated land or to intermediaries in order to establish revolving loan funds for the purchase of highly fractionated land under that section.
(2)Exclusion Section 5140 of this title shall not apply to trust land, restricted tribal land, or tribal corporation land that is mortgaged in accordance with paragraph (1).
(Pub. L. 91–229, § 1, Apr. 11, 1970, 84 Stat. 120; Pub. L. 110–234, title V, § 5501, May 22, 2008, 122 Stat. 1161; Pub. L. 110–246, § 4(a), title V, § 5501, June 18, 2008, 122 Stat. 1664, 1922; Pub. L. 113–79, title V, § 5402, Feb. 7, 2014, 128 Stat. 840.)
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Traces to 12 documents
U.S. Code
- Farmers Home Administration§ 1981
- Transferred§ 477
- Allotment of land on Indian reservations§ 5101
- Agricultural Credit Insurance Fund§ 1929
- Mortgaged property governed by State law§ 5140
- Congressional findings§ 1921
- Incorporation of Indian tribes; charter; ratification by election§ 5124
- Transferred§ 488
- Appropriations§ 1988
- Purchase of trust or restricted or controlled lands at no less than fair market value; requisite conditions§ 2204
- Definition of Secretary§ 8701
public-private-law
18 references not yet in our index
- 1
- Pub. L. 91–229, § 1
- 84 Stat. 120
- Pub. L. 110–234, title V, § 5501
- 122 Stat. 1161
- Pub. L. 110–246, § 4(a)
- 122 Stat. 1664
- 128 Stat. 840
- Pub. L. 87–128
- 75 Stat. 307
- act June 18, 1934, ch. 576
- 48 Stat. 988
- 48 Stat. 984
- Pub. L. 110–234
- Pub. L. 110–246
- section 4(a) of Pub. L. 110–246
- Pub. L. 110–246, § 5501
- section 4 of Pub. L. 110–246
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§ 5136
Loans to purchasers of highly fractioned land
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Stat. Comp.×9
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Cite1
Pub. L.Pub. L. 91–229, § 1
Stat.84 Stat. 120
Cites 30 · showing 12Cited by 33 across 6 sources