§ 9812a. Interest rates payable on certain rural development loans; assignment of loan contracts
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/usc/title-42/section-9812aA research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)Modification of interest rates Notwithstanding any other provision of law—
(1)any outstanding loan made after December 31, 1982, by the Secretary of Health and Human Services; or
(2)any loan made after September 30, 1986;
with moneys from the Rural Development Loan Fund established by section 9812(c)(1) of this title or with funds available (before October 27, 1998) under section 9910(a) of this title (as in effect before October 27, 1998) to an intermediary borrower shall bear interest at a fixed rate equal to the rate of interest that was in effect on the date of issuance for loans made in 1980 with such moneys or such funds if the weighted average rate of interest for all loans made after December 31, 1982, by such intermediary borrower with such moneys or such funds does not exceed the sum of 6 percent and the rate of interest payable under this subsection by such intermediary borrower.
(b)Assignment of certain loan contracts Any contract for a loan made during the period beginning on December 31, 1982, and ending on September 30, 1986, with—
(1)moneys from the Rural Development Loan Fund established by section 9812(c)(1) of this title; or
(2)funds available (before October 27, 1998) under section 9910(a) of this title (as in effect before October 27, 1998);
to an intermediary borrower that is a county government may be assigned by such borrower to an entity to which such loan could have been made for the purpose for which such contract was made. Any entity to which such contract is so assigned shall be substituted as a party to such contract and shall be obligated to carry out such contract and the purpose for which such contract was made.
(Pub. L. 99–425, title IV, § 407(a), (b), Sept. 30, 1986, 100 Stat. 971; Pub. L. 105–285, title II, § 202(c), Oct. 27, 1998, 112 Stat. 2755.)
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statutes-at-large
- Public Law 99–425To authorize appropriations for fiscal years 1987, 1988, 1989, and 1990 to carry out the Head Start, Follow Through, dependent care, community services block grant, and community food and nutrition programs, and for other purposes
- Public Law 105–285To amend the Head Start Act, the Low-Income Home Energy Assistance Act of 1981, and the Community Services Block Grant Act to reauthorize and make improvements to those Acts, to establish demonstration projects that provide an opportunity for persons with limited means to accumulate assets, and for
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- Pub. L. 99–425, title IV, § 407(a)
- 100 Stat. 971
- Pub. L. 105–285, title II, § 202(c)
- 112 Stat. 2755
- section 681 of Pub. L. 97–35
- Section 681 of Pub. L. 97–35
- Pub. L. 105–285, title II, § 201
- 112 Stat. 2728
- Pub. L. 105–285, § 202(c)(1)
- Pub. L. 105–285, § 202(c)(2)
- section 1001 of Pub. L. 99–425
- Pub. L. 99–500, § 101(a) [title VI, § 640]
- 100 Stat. 1783
- Pub. L. 99–591, § 101(a) [title VI, § 640]
- 100 Stat. 3341
- Pub. L. 99–35, title VI, § 611
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§ 9812a
Interest rates payable on certain rural development loans; assignment of loan contracts
Stat.×3
Stat. Comp.×1
Pub. L.Pub. L. 99–425, title IV, § 407(a)
Stat.100 Stat. 971
Pub. L.Pub. L. 105–285, title II, § 202(c)
Stat.112 Stat. 2755
Pub. L.section 681 of Pub. L. 97–35
Cites 20 · showing 9Cited by 4 across 2 sources