7 CFR 766.59

§ 766.59 Payments toward set-aside installments.

United States · 7 CFR — Agriculture · Status: effective

Cite this

Citation: 7 CFR 766.59, § 766.59 Payments toward set-aside installments, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/19974
Permanent ID: ys:prov:19974@1
SHA-256: bb75e89989e8deffbaaf940ee29380309d217d984b0b9a3f9244060101933e94

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Full text

(a) Interest accrual. (1) Interest will accrue on any principal portion of the set-aside installment at the same rate charged on the balance of the loan. (2) If the borrower's set-aside installment is for a loan with a limited resource rate and the Agency modifies that limited resource rate, the interest rate on the set-aside portion will be modified concurrently. (b) Due date. The amount set-aside, including interest accrued on the principal portion of the set-aside, is due on or before the final due date of the loan. (c) Applying payments. The Agency will apply borrower payments toward set-aside installments first to interest and then to principal.

Legislative history

This is a federal regulation, adopted through agency rulemaking under the Administrative Procedure Act — not enacted by a recorded vote of Congress.