Title 25 — IndiansRelease 119-73
§1465 Modification of amount of loan and document securing loan in collection of loan or in best interests of the United States
Title 25 › Chapter CHAPTER 17— - FINANCING ECONOMIC DEVELOPMENT OF INDIANS AND INDIAN ORGANIZATIONS › Subchapter SUBCHAPTER I— - INDIAN REVOLVING LOAN FUND › § 1465
Summary
The Secretary can cancel, reduce, settle, or change loans made from the revolving loan fund and the earlier funds that became part of it if a loan can’t be fully collected, would cost too much to collect, or if he decides it’s in the United States’ best interest. He can also change, settle, lower the priority of, or otherwise alter any mortgage, lease, assignment, contract, or other paper used to secure those loans.
Full Legal Text
Title 25, §1465
Indians — Source: USLM XML via OLRC
The Secretary may cancel, adjust, compromise, or reduce the amount of any loan or any portion thereof heretofore or hereafter made from the revolving loan fund established by this subchapter and its predecessor constituent funds which he determines to be uncollectable in whole or in part, or which is collectable only at an unreasonable cost, or when such action would, in his judgment, be in the best interests of the United States. He may also adjust, compromise, subordinate, or modify the terms of any mortgage, lease, assignment, contract, agreement, or other document taken to secure such loans.
Legislative History
Notes & Related Subsidiaries
Editorial Notes
Amendments
1984—Pub. L. 98–449 struck out proviso at end of first sentence which provided that proceedings pursuant to this section would be effective only after following the procedure set out in section 386a of this title.
Reference
Citations & Metadata
Citation
25 U.S.C. § 1465
Title 25 — Indians
Last Updated
Apr 6, 2026
Release point: 119-73