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25 U.S.C. § 1497 — Evidence of eligibility of loan for and amount of guaranty or insurance; defenses and partial defenses against original lender
Federal law — U.S. Code and appendices · legal_authorities
Any evidence of guaranty or insurance issued by the Secretary shall be conclusive evidence of the eligibility of the loan for guaranty or insurance under the provisions of this chapter and the amount of such guaranty or insurance: Provided, That nothing in this section shall preclude the Secretary from establishing, as against the original lender, defenses based on fraud or material misrepresentation or bar him from establishing, by regulations in force at the date of such issuance or disbursement, whichever is the earlier, partial defenses to the amount payable on the guaranty or insurance.
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Source file: Laws/federal/codes/united-states-code/title-25/section-1497-evidence-of-eligibility-of-loan-for-and-amount-of-guaranty-or-insurance--385f78b001.md
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Source location: Title 25, Chapter 17, § 1497; chapter-017-financing-economic-development-of-indians-and-indian-organizations.md
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Any evidence of guaranty or insurance issued by the Secretary shall be conclusive evidence of the eligibility of the loan for guaranty or insurance under the provisions of this chapter and the amount of such guaranty or insurance: Provided, That nothing in this section shall preclude the Secretary from establishing, as against the original lender, defenses based on fraud or material misrepresentation or bar him from establishing, by regulations in force at the date of such issuance or disbursement, whichever is the earlier, partial defenses to the amount payable on the guaranty or insurance.
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Federal law — U.S. Code and appendices · legal_authorities
In order to provide credit that is not available from private money markets, or to supplement funds from private lenders, including loans guaranteed by the Secretary pursuant to [section 1481 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title25-section1481&num=0&edition=prelim), all funds that are now or hereafter a part of the revolving fund authorized by the Act of June 18, 1934 (48 Stat. 986) [[25 U.S.C. 5101](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title25-section5101&num=0&edition=prelim) et seq.], the Act of June 26, 1936 (49 Stat. 1968),11 So in original. Probably should be “(49 Stat. 1967),”. and the Act of April 19, 1950 (64 Stat. 44), as amended and supplemented, including sums received in settlement of debts of livestock pursuant to sections 1545 and 1546 of this title, and sums collected in repayment of loans heretofore or hereafter made, and as interest or other charges on loans, shall hereafter be administered as a single Indian Revolving Loan Fund. The fund shall be available for loans to Indians having a form of organization that is satisfactory to the Secretary and for loans to individual Indians: Provided, That, where the Secretary determines a rejection of a loan application from a member of an organization making loans to its membership from moneys borrowed from the fund is unwarranted, he may, in his discretion, make a direct loan to such individual from the fund. The fund shall also be available for administrative expenses incurred in connection therewith, or, in the discretion of the Secretary of the Interior, as a contribution to the Indian Loan Guaranty and Insurance Fund authorized by [section 1497 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title25-section1497&
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Federal law — U.S. Code and appendices · legal_authorities
Page 235
TITLE 25—INDIANS
§ 1497
refuse to pay a valid guaranty or insurance
claim on loans previously made in good faith.
(Pub. L. 93–262, title II, § 213, Apr. 12, 1974, 88
Stat. 81.)
§ 1494. Evidence of eligibility of loan for and
amount of guaranty or insurance; defenses
and partial defenses against original lender
Any evidence of guaranty or insurance issued
by the Secretary shall be conclusive evidence of
the eligibility of the loan for guaranty or insur-
ance under the provisions of this chapter and
the amount of such guaranty or insurance: Pro-
vided, That nothing in this section shall pre-
clude
the
Secretary
from
establishing,
as
against the original lender, defenses based on
fraud or material misrepresentation or bar him
from establishing, by regulations in force at the
date of such issuance or disbursement, which-
ever is the earlier, partial defenses to the
amount payable on the guaranty or insurance.
(Pub. L. 93–262, title II, § 214, Apr. 12, 1974, 88
Stat. 81.)
§ 1495. Land and personal property titles
Title to any land purchased by a tribe or by an
individual Indian with loans guaranteed or in-
sured pursuant to this subchapter may be taken
in trust, unless the land is located outside the
boundaries of a reservation or a tribal consolida-
tion area approved by the Secretary. Title to
any land purchased by a tribe or an individual
Indian which is outside the boundaries of the
reservation or approved consolidation area may
be taken in trust if the purchaser was the owner
of trust or restricted interests in the land before
the purchase, otherwise title shall be taken in
the name of the purchaser without any restric-
tion on alienation, control, or use. Title to any
personal property purchased with loans guaran-
teed or ins
Source: Supplied 2024 U.S. Code historical extraction · 25 U.S.C. § 1497
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