§1982 — Title 7 Agriculture | U.S. Code

Summary

Gives loan relief to people who are called up as mobilized military reservists. A mobilized military reservist is someone on active duty under certain military laws during a war or a national emergency, or a National Guard member on full‑time title 32 duty under section 502(f) for more than 30 consecutive days during a President‑declared, federally funded national emergency. While mobilized, borrowers do not have to make interest payments, no interest will build up, and any required principal payments are postponed for the same length of their service. Getting this help will not count as being delinquent or as having received debt forgiveness for future direct or guaranteed loans.

Title 7, §1982

Agriculture — Source: USLM XML via OLRC

(a)In this section, the term “mobilized military reservist” means an individual who—

(1)is on active duty under section 688, 12301(a), 12301(g), 12302, 12304, 12306, or 12406, or chapter 13 of title 10, or any other provision of law during a war or during a national emergency declared by the President or Congress, regardless of the location at which the active duty service is performed; or

(2)in the case of a member of the National Guard, is on full-time National Guard duty (as defined in section 101(d)(5) of title 10) under a call to active service authorized by the President or the Secretary of Defense for a period of more than 30 consecutive days under section 502(f) of title 32 for purposes of responding to a national emergency declared by the President and supported by Federal funds.

(b)Any requirement that a borrower of a direct loan made under this chapter make any interest payment on the loan that would otherwise be required to be made while the borrower is a mobilized military reservist is rescinded.

(c)The due date of any payment of principal on a direct loan made to a borrower under this chapter that would otherwise be required to be made while or after the borrower is a mobilized military reservist is deferred for a period equal in length to the period for which the borrower is a mobilized military reservist.

(d)Interest on a direct loan made to a borrower described in this section shall not accrue during the period the borrower is a mobilized military reservist.

(e)Notwithstanding section 2008h of this title or any other provision of this chapter, a borrower who receives assistance under this section shall not, as a result of the assistance, be considered to be delinquent or receiving debt forgiveness for purposes of receiving a direct or guaranteed loan under this chapter.

Notes & Related Subsidiaries

Editorial Notes

References in Text

This chapter, referred to in subsecs. (b), (c), and (e), 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. For complete classification of title III to the Code, see

Short Title

note set out under section 1921 of this title and Tables.

Prior Provisions

A prior section 1982, Pub. L. 87–128, title III, § 332, Aug. 8, 1961, 75 Stat. 314; Pub. L. 99–198, title XIII, § 1311, Dec. 23, 1985, 99 Stat. 1524; Pub. L. 100–233, title VI, § 607, Jan. 6, 1988, 101 Stat. 1667; Pub. L. 101–624, title XVIII, § 1809, Nov. 28, 1990, 104 Stat. 3820; Pub. L. 102–554, § 11, Oct. 28, 1992, 106 Stat. 4151, related to county committees, prior to repeal by Pub. L. 103–354, title II, § 227(b)(1), Oct. 13, 1994, 108 Stat. 3218.

Amendments

2018—Subsec. (a)(1). Pub. L. 115–232 substituted “chapter 13” for “chapter 15”.

§1982 Relief for Mobilized Military Reservists From Certain Agricultural Loan Obligations