§ 1929b. Purchase of guaranteed portions of loans; terms and conditions; exercise of authorities
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/usc/title-7/section-1929bA research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The Secretary may purchase, on such terms and conditions as the Secretary deems appropriate, the guaranteed portion of any loan guaranteed under this chapter: Provided, That the Secretary may not pay for any such guaranteed portion of a loan in excess of an amount equal to the unpaid principal balance and accrued interest on the guaranteed portion of the loan. The Secretary may use for such purchases funds from the Rural Development Insurance Fund with respect to rural development loans as defined in section 1929a(a) of this title and funds from the Agricultural Credit Insurance Fund with respect to all other loans under this chapter.
This authority may be exercised only if the Secretary determines that an adequate secondary market is not available in the private sector.
(Pub. L. 87–128, title III, § 309B, as added Pub. L. 95–334, title I, § 111, Aug. 4, 1978, 92 Stat. 424.)
Connections3 cite this · traces to 2
Cited by 3 sections
statute-compilations
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5 references not yet in our index
- Pub. L. 87–128, title III, § 309B
- Pub. L. 95–334, title I, § 111
- 92 Stat. 424
- Pub. L. 87–128
- 75 Stat. 307
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§ 1929b
Purchase of guaranteed portions of loans; terms and conditions; exercise of authorities
Stat. Comp.×1
Stat.×1
U.S.C.×1
Pub. L.Pub. L. 87–128, title III, § 309B
Pub. L.Pub. L. 95–334, title I, § 111
Stat.92 Stat. 424
Pub. L.Pub. L. 87–128
Stat.75 Stat. 307
Cites 7Cited by 3 across 3 sources