7 CFR 1710.604
§ 1710.604 Amortization of principal.
United States · 7 CFR — Agriculture · Status: effective
Cite this
- Citation
- 7 CFR 1710.604, § 1710.604 Amortization of principal, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/26987
- Permanent ID
ys:prov:26987@1- SHA-256
2800dbda7621699ceca5b7884dfd8ecc2789220f76d4ff68ef3b6b9da510b2e8
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) Amortization of funds advanced during the first 2 years after the date of the note shall begin no later than 2 years from the date of the note. Except as set forth in paragraph (b) of this section, amortization of funds advanced 2 years or more after the date of the note shall begin with the scheduled loan payment billed in the month following the month of the advance.
(b) For advances made 2 years or more after the date of the note, the Administrator may, upon written request from the borrower, authorize deferral of amortization of principal for a period of up to 2 years from the date of the advance if the Administrator determines that failure to authorize such deferral would adversely affect either the Government's financial interest or the achievement of the purposes of the Rural Electrification Act. Such deferral shall not extend the loan maturity period.
Legislative history
This is a federal regulation, adopted through agency rulemaking under the Administrative Procedure Act — not enacted by a recorded vote of Congress.