7 CFR 765.153
§ 765.153 Application of payments.
United States · 7 CFR — Agriculture · Status: effective
Cite this
- Citation
- 7 CFR 765.153, § 765.153 Application of payments, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/19915
- Permanent ID
ys:prov:19915@1- SHA-256
58a3632c67542e09f46549f38fd3359fc226297def0d21ff53b8f6d2dac9fac0
The hash is SHA-256 of this version's text, with every run of whitespace collapsed to a single space and the ends trimmed. The ID always leads back here, and checking it says whether the text you cited is still the current version.
Full text
(a) Regular payments. A regular payment is credited to a scheduled installment on program and non-program loans. Regular payments are applied to loans in the following order:
(1) Annual operating loan;
(2) Delinquent FLP installments, paying least secured loans first;
(3) Non-delinquent FLP installments due in the current production cycle in order of security priority, paying least secured loans first;
(4) Any future installments due.
(b) Extra payments. An extra payment is not credited to a scheduled installment and does not relieve the borrower's responsibility to make scheduled loan installments, but will reduce the borrower's FLP indebtedness. Extra payments are applied to FLP loans in order of lien priority except for refunds of unused loan funds, which shall be applied to the loan for which the funds were advanced.
Legislative history
This is a federal regulation, adopted through agency rulemaking under the Administrative Procedure Act — not enacted by a recorded vote of Congress.