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Co-Authored-By: Claude Opus 4.8 <noreply@anthropic.com>
2026-07-06 09:52:37 -04:00

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LegalText 7 U.S.C. § 1992 Loan limitations us united_states_code code_section 7 AGRICULTURE 50 AGRICULTURAL CREDIT 1992 7 U.S.C. § 1992 current 119-100 2026-06-26 official https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc07@119-100.zip /us/usc/t7/s1992 data/legal/raw/us/code/title-07/usc07.xml 4c7f50d6e057b98f4585f027e058c1791a856a23b6ed312f7074f67c20e4855f 50edab1679a711653797362c0aeb8f2273303fe473fb7fa16df1ee76bdd6e984 49785a5fad659e4edf23101c80a319e39a153aaebfa5d1daad89c1deb7323220 2026-07-04 official
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7 U.S.C. § 1992 - Loan limitations

Text

No loan (other than one to a public body or nonprofit association (including Indian tribes on Federal and State reservations or other federally recognized Indian tribal groups) for community facilities or one of a type authorized by section 1926(a)(1) of this title prior to its amendment by the Rural Development Act of 1972) shall be made by the Secretary either for sale as an insured loan or otherwise under sections 1926(a)(1), 1932, or 1942(c) of this title unless the Secretary shall have determined that no other lender is willing to make such loan and assume 10 per centum of any loss sustained thereon. No contract guaranteeing any such loan by such other lender shall require the Secretary to guarantee more than 90 per centum of the principal and interest on such loan.

(Pub. L. 87128, title III, § 344, as added Pub. L. 92419, title I, § 129, Aug. 30, 1972, 86 Stat. 666; amended Pub. L. 9435, § 2, June 16, 1975, 89 Stat. 214; Pub. L. 104127, title VI, § 661(i), Apr. 4, 1996, 110 Stat. 1107.)

Notes

Editorial Notes

References in TextFor statutory changes to section 1926(a)(1) of this title by the Rural Development Act of 1972, referred to in text, see 1972 Amendment note for section 104 of Pub. L. 92419, set out under section 1926 of this title. For complete classification of Rural Development Act of 1972 to the Code, see Short Title of 1972 Amendment note set out under section 1921 of this title and Tables.

Amendments1996—Pub. L. 104127 substituted “1926(a)(1), 1932, or 1942(c) of this title” for “1924(b), 1926(a)(1), 1932, 1942(b), or 1942(c) of this title”. 1975—Pub. L. 9435 substituted “guaranteed more than 90 per centum of the principal and interest on such loan” for “participate in more than 90 per centum of any loss sustained thereon”.