7 U.S.C. § 1929b
Purchase of guaranteed portions of loans; terms and conditions; exercise of authorities
United States · Title 7 — AGRICULTURE · Status: effective
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- Citation
- 7 U.S.C. § 1929b, Purchase of guaranteed portions of loans; terms and conditions; exercise of authorities, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/429887
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Full text
The Secretary may purchase, on such terms and conditions as the Secretary deems appropriate, the guaranteed portion of any loan guaranteed under this chapter: Provided, That the Secretary may not pay for any such guaranteed portion of a loan in excess of an amount equal to the unpaid principal balance and accrued interest on the guaranteed portion of the loan. The Secretary may use for such purchases funds from the Rural Development Insurance Fund with respect to rural development loans as defined in section 1929a(a) of this title and funds from the Agricultural Credit Insurance Fund with respect to all other loans under this chapter. This authority may be exercised only if the Secretary determines that an adequate secondary market is not available in the private sector.
Legislative history
The public laws that enacted or amended this section. Tallies are for the whole bill as it passed each chamber — often an omnibus covering far more than this provision — not a vote on this section alone. The law that originally enacted this section predates the public laws loaded here, so only later amendments are listed.
- Agricultural Credit Act of 1978House: no recorded tallySenate: no recorded tally