§ 1993. Transition to private commercial or other sources of credit

311 words·~1 min read·/usc/title-7/section-1993

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(a)In general In making or insuring a farm loan under subchapter I or II, the Secretary shall establish a plan and promulgate regulations (including performance criteria) that promote the goal of transitioning borrowers to private commercial credit and other sources of credit in the shortest period of time practicable.

(b)Coordination In carrying out this section, the Secretary shall integrate and coordinate the transition policy described in subsection

(a)with—

(1)the borrower training program established by section 2006a of this title;

(2)the loan assessment process established by section 2006b of this title;

(3)the supervised credit requirement established by section 2006c of this title;

(4)the market placement program established by section 2006d of this title; and

(5)other appropriate programs and authorities, as determined by the Secretary.

(Pub. L. 87–128, title III, § 345, as added Pub. L. 110–234, title V, § 5304, May 22, 2008, 122 Stat. 1153, and Pub. L. 110–246, § 4(a), title V, § 5304, June 18, 2008, 122 Stat. 1664, 1914.)

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