7 CFR 765.304
§ 765.304 Unapproved disposition.
United States · 7 CFR — Agriculture · Status: effective
Cite this
- Citation
- 7 CFR 765.304, § 765.304 Unapproved disposition, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/19939
- Permanent ID
ys:prov:19939@1- SHA-256
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Full text
(a) If a borrower disposes of chattel security without Agency approval, or misuses proceeds, the borrower must:
(1) Make restitution to the Agency within 30 days of Agency notification; or
(2) Provide disposition or use information to enable the Agency to consider post-approval within 30 days of Agency notification.
(b) Failure to cure the first unauthorized disposition in accordance with paragraph (a) of this section, or a second unauthorized disposition, whether or not cured, constitutes a non-monetary default, will be considered by the Agency when making eligibility determinations for future requests for assistance, may adversely impact such requests, and may result in civil or criminal action.
Legislative history
This is a federal regulation, adopted through agency rulemaking under the Administrative Procedure Act — not enacted by a recorded vote of Congress.