Title 25 — IndiansRelease 119-73
§1494 Evidence of eligibility of loan for and amount of guaranty or insurance; defenses and partial defenses against original lender
Title 25 › Chapter CHAPTER 17— - FINANCING ECONOMIC DEVELOPMENT OF INDIANS AND INDIAN ORGANIZATIONS › Subchapter SUBCHAPTER II— - LOAN GUARANTY AND INSURANCE › § 1494
Summary
When the Secretary issues a guaranty or insurance document, that paper proves the loan qualified and shows the guaranteed amount. The Secretary can still challenge the original lender for fraud or serious misrepresentation and can apply rules that were in effect on the date the guaranty was issued or money was paid (whichever came first) to reduce what must be paid.
Full Legal Text
Title 25, §1494
Indians — Source: USLM XML via OLRC
Any evidence of guaranty or insurance issued by the Secretary shall be conclusive evidence of the eligibility of the loan for guaranty or insurance under the provisions of this chapter and the amount of such guaranty or insurance: Provided, That nothing in this section shall preclude the Secretary from establishing, as against the original lender, defenses based on fraud or material misrepresentation or bar him from establishing, by regulations in force at the date of such issuance or disbursement, whichever is the earlier, partial defenses to the amount payable on the guaranty or insurance.
Reference
Citations & Metadata
Citation
25 U.S.C. § 1494
Title 25 — Indians
Last Updated
Apr 6, 2026
Release point: 119-73