§ 1982. Relief for mobilized military reservists from certain agricultural loan obligations
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(a)Definition of mobilized military reservist In this section, the term “mobilized military reservist” means an individual who—
(1)is on active duty under section 688, 12301(a), 12301(g), 12302, 12304, 12306, or 12406, or chapter 13 of title 10, or any other provision of law during a war or during a national emergency declared by the President or Congress, regardless of the location at which the active duty service is performed; or
(2)in the case of a member of the National Guard, is on full-time National Guard duty (as defined in section 101(d)(5) of title 10) under a call to active service authorized by the President or the Secretary of Defense for a period of more than 30 consecutive days under section 502(f) of title 32 for purposes of responding to a national emergency declared by the President and supported by Federal funds.
(b)Forgiveness of interest payments due while borrower is a mobilized military reservist Any requirement that a borrower of a direct loan made under this chapter make any interest payment on the loan that would otherwise be required to be made while the borrower is a mobilized military reservist is rescinded.
(c)Deferral of principal payments due while or after borrower is a mobilized military reservist The due date of any payment of principal on a direct loan made to a borrower under this chapter that would otherwise be required to be made while or after the borrower is a mobilized military reservist is deferred for a period equal in length to the period for which the borrower is a mobilized military reservist.
(d)Nonaccrual of interest Interest on a direct loan made to a borrower described in this section shall not accrue during the period the borrower is a mobilized military reservist.
(e)Borrower not considered to be delinquent or receiving debt forgiveness Notwithstanding section 2008h of this title or any other provision of this chapter, a borrower who receives assistance under this section shall not, as a result of the assistance, be considered to be delinquent or receiving debt forgiveness for purposes of receiving a direct or guaranteed loan under this chapter.
(Pub. L. 87–128, title III, § 332, as added Pub. L. 108–375, div. A, title VI, § 664, Oct. 28, 2004, 118 Stat. 1974; amended Pub. L. 115–232, div. A, title XII, § 1204(a)(2), Aug. 13, 2018, 132 Stat. 2017.)
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Cited by 25 sections · top 24
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statutes-at-large
- Public Law 95–334To amend the Consolidated Farm and Rural Development Act, provide an economic emergency loan program for farmers and ranchers, extend the Emergency Livestock Credit Act of 1974, and for other purposes
- Public Law 115–232To authorize appropriations for fiscal year 2019 for military activities of the Department of Defense, for military construction, and for defense activities of the Department of Energy, to prescribe military personnel strengths for such fiscal year, and for other purposes
- Public Law 100–233To provide credit assistance to farmers, to strengthen the Farm Credit System, to facilitate the establishment of secondary markets for agricultural loans, and for other purposes
- Public Law 108–375To authorize appropriations for fiscal year 2005 for military activities of the Department of Defense, for military construction, and for defense activities of the Department of Energy, to prescribe personnel strengths for such fiscal year for the Armed Forces, and for other purposes
- Public Law 99–197To designate certain national forest system lands in the State of Kentucky for inclusion in the National Wilderness Preservation System, to release other forest lands for multiple use management, and for other purposes
- Public Law 101–624To extend and revise agricultural price support and related programs, to provide for agricultural export, resource conservation, farm credit, and agricultural research and related programs, to ensure consumers an abundance of food and fiber at reasonable prices, and for other purposes
- Public Law 102–554To amend the Consolidated Farm and Rural Development Act to establish a program to aid beginning farmers and ranchers and to improve the operation of the Farmers Home Administration, and to amend the Farm Credit Act of 1971, and for other purposes
- Public Law 98–258To make adjustments in the commodity programs for wheat, feed grains, upland cotton, and rice, to provide agricultural credit assistance, and for other purposes
statute-compilations
bill
- Sec. 525Conforming and clerical amendments
- Sec. 525Conforming and clerical amendments
- Sec. 1275Technical corrections relating to defense security cooperation statutory reorganization
- Sec. 1204Technical corrections relating to defense security cooperation statutory reorganization
- Sec. 1206Technical corrections relating to defense security cooperation statutory reorganization
- Sec. 1275Technical corrections relating to defense security cooperation statutory reorganization
- Sec. 1275Technical corrections relating to defense security cooperation statutory reorganization
- Sec. 1206Technical corrections relating to defense security cooperation statutory reorganization
- Sec. 7Alignment of benefits
17 references not yet in our index
- Pub. L. 87–128, title III, § 332
- Pub. L. 108–375, div. A, title VI, § 664
- 118 Stat. 1974
- 132 Stat. 2017
- Pub. L. 87–128
- 75 Stat. 307
- 75 Stat. 314
- Pub. L. 99–198, title XIII, § 1311
- 99 Stat. 1524
- Pub. L. 100–233, title VI, § 607
- 101 Stat. 1667
- Pub. L. 101–624, title XVIII, § 1809
- 104 Stat. 3820
- Pub. L. 102–554, § 11
- 106 Stat. 4151
- Pub. L. 103–354, title II, § 227(b)(1)
- 108 Stat. 3218
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§ 1982
Relief for mobilized military reservists from certain agricultural loan obligations
Bills×9
Stat.×9
U.S.C.×4
Stat. Comp.×2
Pub. L.×1
Pub. L.Pub. L. 87–128, title III, § 332
Pub. L.Pub. L. 108–375, div. A, title VI, § 664
Stat.118 Stat. 1974
Stat.132 Stat. 2017
Pub. L.Pub. L. 87–128
Cites 22 · showing 10Cited by 25 across 5 sources