7 CFR 4279.137
§ 4279.137 Financial statements.
United States · 7 CFR — Agriculture · Status: effective
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- Citation
- 7 CFR 4279.137, § 4279.137 Financial statements, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/30977
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Full text
Except for audited financial statements required by § 4279.71, the lender will determine the type and frequency of submission of financial statements by the borrower and any guarantors. At a minimum, annual financial statements prepared by an accountant in accordance with GAAP are required, except for personal financial statements and cooperative stock purchase loans in accordance with § 4279.115(a) that do not have to be prepared in accordance with GAAP. However, if the loan amount exceeds $10 million or if circumstances warrant, the Agency may require annual audited financial statements.
Legislative history
This is a federal regulation, adopted through agency rulemaking under the Administrative Procedure Act — not enacted by a recorded vote of Congress.