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7 U.S.C. § 2005 — Expedited clearing of title to inventory property

Federal law — U.S. Code and appendices · legal_authorities

7 U.S.C. § 2005 — Expedited clearing of title to inventory property

The Farmers Home Administration may employ local attorneys, on a case-by-case basis, to process all legal procedures necessary to clear the title to foreclosed properties in the inventory of the Farmers Home Administration. Such attorneys shall be compensated at not more than their usual and customary charges for such work.

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Source location: Title 7, Chapter 50, § 2005; chapter-050-agricultural-credit.md

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Federal law — U.S. Code and appendices · legal_authorities

7 U.S.C. § 1992 — Definitions

**(a)** As used in this chapter: (1) The term “farmer” includes a person who is engaged in, or who, with assistance afforded under this chapter, intends to engage in, fish farming. (2) The term “farming” shall be deemed to include fish farming. (3) The term “owner-operator” shall include in the State of Hawaii the lessee-operator of real property in any case in which the Secretary determines that such real property cannot be acquired in fee simple by such lessee-operator, that adequate security is provided for the loan with respect to such real property for which such lessee-operator applies under this chapter, and that there is a reasonable probability of accomplishing the objectives and repayment of such loan. (4) The word “insure” as used in this chapter includes guarantee, which means to guarantee the payment of a loan originated, held, and serviced by a private financial agency or other lender approved by the Secretary. (5) The term “contract of insurance” includes a contract of guarantee. (6) The terms “United States” and “State” shall include each of the several States, the Commonwealth of Puerto Rico, the Virgin Islands of the United States, Guam, American Samoa, the Commonwealth of the Northern Mariana Islands, and, to the extent the Secretary determines it to be feasible and appropriate, the Trust Territory of the Pacific Islands. (7) The term “joint operation” means a joint farming operation in which two or more farmers work together sharing equally or unequally land, labor, equipment, expenses, and income. (8) The term “beginning farmer or rancher” means such term as defined by the Secretary. (9) The term “direct loan” means a loan made or insured from funds in the account created by [section 1929 of this title](https://uscode.house.gov/view.xhtml?r

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Federal law — U.S. Code and appendices · legal_authorities

7 U.S.C. § 2005 — Payment of losses on guaranteed loans

Page 1172 TITLE 7—AGRICULTURE § 2004 within the State.’’ for ‘‘Any funds reserved and allo- cated for purposes of this paragraph, but not used shall be reallocated within such State.’’ 1996—Subsec. (f). Pub. L. 104–127 added subsec. (f). 1992—Subsec. (a)(2). Pub. L. 102–554, § 21(a)(1), sub- stituted ‘‘Except as provided in paragraph (3), in estab- lishing’’ for ‘‘In establishing’’. Subsec. (a)(3). Pub. L. 102–554, § 21(a)(2), added par. (3). Subsec. (e)(1). Pub. L. 102–554, § 21(b), substituted ‘‘, ethnic, or gender’’ for ‘‘or ethnic’’. 1990—Subsec. (b)(3). Pub. L. 101–624, § 1817, added par. (3). Subsecs. (c), (d). Pub. L. 101–624, § 2501(f)(1)–(3), added subsec. (c), redesignated former subsec. (c) as (d), and struck out former subsec. (d) which read as follows: ‘‘As used in this section, the term ‘socially disadvantaged group’ means a group whose members have been sub- jected to racial or ethnic prejudice because of their identity as members of a group without regard to their individual qualities.’’ Subsec. (e). Pub. L. 101–624, § 2501(f)(4), added subsec. (e). Statutory Notes and Related Subsidiaries TERMINATION OF REPORTING REQUIREMENTS For termination, effective May 15, 2000, of provisions of law requiring submittal to Congress of any annual, semiannual, or other regular periodic report listed in House Document No. 103–7 (in which the report required by subsec. (d) of this section is listed on page 44), see section 3003 of Pub. L. 104–66, as amended, set out as a note under section 1113 of Title 31, Money and Finance. § 2004. Expedited clearing of title to inventory property The Farmers Home Administration may em- ploy local attorneys, on a case-by-case basis, to process all legal procedures necessary to clear the title to foreclosed p

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