Source: https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section2279aa-8&num=0&edition=prelim
Timestamp: 2020-07-15 06:27:21
Document Index: 583920128

Matched Legal Cases: ['§ 2279', '§8', '§702', '§601', '§110', '§5406', '§4', '§5406', '§5410', '§5410', '§5406', '§5406', '§5410']

[USC02] 12 USC 2279aa-8: Standards for qualified loans
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12 USC 2279aa-8: Standards for qualified loans Text contains those laws in effect on July 14, 2020
To further the purpose of this subchapter to provide a new source of long-term fixed rate financing to assist farmers and ranchers to purchase agricultural real estate, the standards established by the Board pursuant to subsection (a) with respect to loans secured by agricultural real estate shall, at a minimum-
(Pub. L. 92–181, title VIII, §8.8, as added Pub. L. 100–233, title VII, §702, Jan. 6, 1988, 101 Stat. 1700 ; amended Pub. L. 100–399, title VI, §601(i), Aug. 17, 1988, 102 Stat. 1005 ; Pub. L. 104–105, title I, §110, Feb. 10, 1996, 110 Stat. 165 ; Pub. L. 110–234, title V, §5406(c), May 22, 2008, 122 Stat. 1158 ; Pub. L. 110–246, §4(a), title V, §5406(c), June 18, 2008, 122 Stat. 1664 , 1920; Pub. L. 115–334, title V, §5410(a), Dec. 20, 2018, 132 Stat. 4678 .)
Pub. L. 115–334, title V, §5410, Dec. 20, 2018, 132 Stat. 4678 , provided that, effective 1 year after the date a report submitted in accordance with section 5414 of Pub. L. 115–334 indicates that it is feasible to increase the acreage limitation in subsection (c)(2) of this section to 2,000 acres, subsection (c)(2) of this section is amended by striking "1,000" and inserting "2,000". See 2018 Amendment note below.
2018-Subsec. (c)(2). Pub. L. 115–334 substituted "2,000" for "1,000".
2008-Subsec. (a). Pub. L. 110–246, §5406(c)(1), added pars. (1) and (2), designated last sentence as par. (3) and inserted heading, and struck out former first sentence which read as follows: "Not later than 120 days after the appointment and election of the permanent Board, the Corporation, in consultation with originators, shall establish uniform underwriting, security appraisal, and repayment standards for qualified loans."
Subsecs. (d), (e). Pub. L. 110–246, §5406(c)(4), (5), redesignated subsec. (e) as (d) and struck out former subsec. (d). Prior to amendment, text read as follows: "No standard prescribed under subsection (a) shall take effect before the later of-
1996-Subsec. (e). Pub. L. 104–105 inserted at end "The Board shall promote and encourage the inclusion of qualified loans for small farms and family farmers in the agricultural mortgage secondary market."
1988-Subsec. (a). Pub. L. 100–399 inserted "permanent" after "appointment and election of the".
Pub. L. 115–334, title V, §5410(b), Dec. 20, 2018, 132 Stat. 4678 , provided that: "The amendment made by subsection (a) [amending this section] shall take effect 1 year after the date a report submitted in accordance with section 5414 of this Act [132 Stat. 4724] indicates that it is feasible to increase the acreage limitation in section 8.8(c)(2) of the Farm Credit Act of 1971 [12 U.S.C. 2279aa–8(c)(2)] to 2,000 acres."