Title 7 — AgricultureRelease 119-73
§1998 Guaranteed farm loan programs
Title 7 › Chapter CHAPTER 50— - AGRICULTURAL CREDIT › Subchapter SUBCHAPTER IV— - ADMINISTRATIVE PROVISIONS › § 1998
Summary
The Secretary must ensure loan guarantees serve borrowers and lenders and allow reasonable early advances on defaulted loans before liquidation, despite other provisions.
Full Legal Text
Title 7, §1998
Agriculture — Source: USLM XML via OLRC
Notwithstanding any other provision of this chapter, the Secretary shall ensure that farm loan guarantee programs carried out under this chapter are designed so as to be responsive to borrower and lender needs and to include provisions under reasonable terms and conditions for advances, before completion of the liquidation process, of guarantee proceeds on loans in default.
Legislative History
Notes & Related Subsidiaries
Editorial Notes
References in Text
This chapter, referred to in text, was in the original “this title”, meaning title III of Pub. L. 87–128, Aug. 8, 1961, 75 Stat. 307, known as the Consolidated Farm and Rural Development Act, which is classified principally to this chapter. For complete classification of title III to the Code, see
Short Title
note set out under section 1921 of this title and Tables.
Reference
Citations & Metadata
Citation
7 U.S.C. § 1998
Title 7 — Agriculture
Last Updated
Apr 6, 2026
Release point: 119-73