§5136 — Title 25 Indians | U.S. Code

Summary

The Agriculture Secretary can make direct loans to recognized tribes or tribal corporations to buy lands or land interests within reservations or some Alaska communities. Loans go only to tribes or corporations that lack uncommitted funds, have a reasonable chance of success, cannot get credit elsewhere at reasonable rates and terms, and are for the purposes in sections 5136–5143. The Secretary may also make and insure loans under 7 U.S.C. 1929 to buy highly fractionated land or create revolving funds; section 5140 does not apply to land mortgaged under that authority.

Title 25, §5136

Indians — Source: USLM XML via OLRC

(a)The Secretary of Agriculture is authorized to make direct loans in a manner consistent with direct loans pursuant to subtitle D of the Consolidated Farm and Rural Development Act (7 U.S.C. 1981 et seq.), to any Indian tribe recognized by the Secretary of the Interior or tribal corporation established pursuant to the Indian Reorganization Act (25 U.S.C. 477),11 See References in Text note below. which does not have adequate uncommitted funds, to acquire lands or interests therein within the tribe’s reservation as determined by the Secretary of the Interior, or within a community in Alaska incorporated by the Secretary pursuant to the Indian Reorganization Act [25 U.S.C. 5101 et seq.], for use of the tribe or the corporation or the members of either. Such loans shall be limited to such Indian tribes or tribal corporations as have reasonable prospects of success in their proposed operations and as are unable to obtain sufficient credit elsewhere at reasonable rates and terms to finance the purposes authorized in sections 5136 to 5143 of this title.

(b)(1)Subject to paragraph (2), the Secretary of Agriculture may make and insure loans in accordance with section 1929 of title 7 to eligible purchasers of highly fractionated land or to intermediaries in order to establish revolving loan funds for the purchase of highly fractionated land under that section.

(2)section 5140 of this title shall not apply to trust land, restricted tribal land, or tribal corporation land that is mortgaged in accordance with paragraph (1).

Notes & Related Subsidiaries

Editorial Notes

References in Text

The Consolidated Farm and Rural Development Act, referred to in subsec. (a), is title III of Pub. L. 87–128, Aug. 8, 1961, 75 Stat. 307. Subtitle D of the Act is classified principally to subchapter IV (§ 1981 et seq.) of chapter 50 of Title 7, Agriculture. For complete classification of the Act to the Code, see

Short Title

note set out under section 1921 of Title 7 and Tables. Tribal corporation established by the Indian Reorganization Act (25 U.S.C. 477), referred to in subsec. (a), means a tribal corporation established under section 17 of act

June 18, 1934, ch. 576, 48 Stat. 988, which was classified to section 477 of this title prior to editiorial reclassification as section 5124 of this title. The Indian Reorganization Act, referred to in subsec. (a), is act

June 18, 1934, ch. 576, 48 Stat. 984, which is classified generally to this chapter. For complete classification of this Act to the Code, see

Short Title

note set out under section 5101 of this title and Tables. Codification Pub. L. 110–234 and Pub. L. 110–246 made identical

Amendments

to this section. The

Amendments

by Pub. L. 110–234 were repealed by section 4(a) of Pub. L. 110–246. Section was formerly classified to section 488 of this title prior to editorial reclassification and renumbering as this section.

Amendments

2014—Subsec. (a). Pub. L. 113–79, § 5402(1), in first sentence, substituted “direct loans in a manner consistent with direct loans pursuant to subtitle D of the Consolidated Farm and Rural Development Act (7 U.S.C. 1981 et seq.)” for “loans from the Farmers Home Administration Direct Loan Account created by section 1988(c) of title 7, and to make and insure loans as provided in section 1928 and 1929 of title 7”. Subsec. (b)(1). Pub. L. 113–79, § 5402(2), substituted “or to intermediaries in order to establish revolving loan funds for the purchase of highly fractionated land under that section” for “pursuant to section 2204(c) of this title”. 2008—Pub. L. 110–246, § 5501, inserted section catchline, designated existing provisions as subsec. (a), inserted heading, and added subsec. (b).

Statutory Notes and Related Subsidiaries

Effective Date

of 2008 AmendmentAmendment of this section and repeal of Pub. L. 110–234 by Pub. L. 110–246 effective May 22, 2008, the date of enactment of Pub. L. 110–234, see section 4 of Pub. L. 110–246, set out as an

Effective Date

note under section 8701 of Title 7, Agriculture.

§5136 Loans to purchasers of highly fractioned land

Summary

Title 25, §5136

Notes & Related Subsidiaries

Editorial Notes

References in Text

Short Title

Short Title

Amendments

Amendments

Amendments

Statutory Notes and Related Subsidiaries

Effective Date

Effective Date

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