Title 25 — IndiansRelease 119-73
§1499 Limitation on guarantee of debt issues; approval of bond issue sale
Title 25 › Chapter CHAPTER 17— - FINANCING ECONOMIC DEVELOPMENT OF INDIANS AND INDIAN ORGANIZATIONS › Subchapter SUBCHAPTER II— - LOAN GUARANTY AND INSURANCE › § 1499
Summary
The Secretary may guarantee up to 90 percent of the remaining principal and interest owed on bonds, debentures, or similar debt issued by an organization the Secretary approves. Those bonds will be treated as a loan under sections 1482, 1483, 1484, 1485, 1486, 1489, 1490, 1491, 1493, 1494, 1495, 1496, and 1497 of this title. The Secretary must also approve how a guaranteed bond issue is sold.
Full Legal Text
Title 25, §1499
Indians — Source: USLM XML via OLRC
(a)The Secretary may guarantee not to exceed 90 percent of the unpaid principal and interest due on an issue of bonds, debentures, or similar obligations issued by an organization satisfactory to the Secretary. Such an issue shall be deemed a loan for purposes of section 1482, 1483, 1484, 1485, 1486, 1489, 1490, 1491, 1493, 1494, 1495, 1496, and 1497 of this title.
(b)The method by which an issue of bonds guaranteed under this section may be sold shall be subject to approval by the Secretary.
Reference
Citations & Metadata
Citation
25 U.S.C. § 1499
Title 25 — Indians
Last Updated
Apr 6, 2026
Release point: 119-73