7 U.S.C. § 1982 — Relief for mobilized military reservists

Page 1129 TITLE 7—AGRICULTURE § 1982 erage yield for the farm from the calculation, if the borrower or applicant was affected by a disaster during at least 2 of the crop years dur- ing the period. (2) Affected by a disaster For purposes of paragraph (1), a borrower or applicant was affected by a disaster if the Sec- retary finds that the borrower or applicant’s farming operations have been substantially af- fected by a natural disaster in the United States or by a major disaster or emergency designated by the President under the Robert T. Stafford Disaster Relief and Emergency As- sistance Act (42 U.S.C. 5121 et seq.), including a borrower or applicant who has a qualifying loss but is not located in a designated or de- clared disaster area. (3) Application of subsection Paragraph (1) shall apply to all actions taken by the Secretary to carry out this chap- ter (except for loans under subchapter III) that involve the yields of a farm of a borrower or applicant, including making loans and loan guarantees, servicing loans, and making credit sales. (Pub. L. 87–128, title III, § 331E, as added Pub. L. 100–233, title VI, § 606, Jan. 6, 1988, 101 Stat. 1667; amended Pub. L. 102–237, title V, § 501(d)(1), Dec. 13, 1991, 105 Stat. 1866; Pub. L. 102–552, title V, § 516(g)(1), Oct. 28, 1992, 106 Stat. 4138.) Editorial Notes REFERENCES IN TEXT The Robert T. Stafford Disaster Relief and Emer- gency Assistance Act, referred to in subsecs. (a) and (b)(2), is Pub. L. 93–288, May 22, 1974, 88 Stat. 143, which is classified principally to chapter 68 (§ 5121 et seq.) of Title 42, The Public Health and Welfare. For complete classification of this Act to the Code, see Short Title note set out under section 5121 of Title 42 and Tables. This chapter, referred to in subsec. (b)(1), (3), was in the original ‘‘this title’’, meaning title III of Pub. L. 87–128, Aug. 8, 1961, 75 Stat. 307, known as the Consoli- dated Farm and Rural Development Act, which is clas- sified principally to this chapter. For complete classi- fication of title III to the Code, see Short Title note set out under section 1921 of this title and Tables. AMENDMENTS 1992—Subsec. (a). Pub. L. 102–552, § 516(g)(1)(A), sub- stituted ‘‘Robert T. Stafford Disaster Relief and Emer- gency Assistance Act (42 U.S.C. 5121 et seq.)’’ for ‘‘Dis- aster Relief Act of 1974’’. Subsec. (b)(2). Pub. L. 102–552, § 516(g)(1)(B), inserted ‘‘Robert T. Stafford’’ before ‘‘Disaster Relief’’. 1991—Pub. L. 102–237 designated existing provisions as subsec. (a), inserted heading, and added subsec. (b). Statutory Notes and Related Subsidiaries EFFECTIVE DATE OF 1992 AMENDMENT Pub. L. 102–552, title V, § 516(g)(2), Oct. 28, 1992, 106 Stat. 4138, provided that: ‘‘The amendments made by paragraph (1) of this subsection [amending this section] shall take effect immediately after section 501(d) of the Food, Agriculture, Conservation, and Trade Act Amendments of 1991 (Public Law 102–237; 105 Stat. 1866) [amending this section and enacting provisions set out below] took effect.’’ EFFECTIVE DATE OF 1991 AMENDMENT Pub. L. 102–237, title V, § 501(d)(3), Dec. 13, 1991, 105 Stat. 1867, provided that: ‘‘(A) IN GENERAL.—Except as provided in subpara- graph (B), the amendment made by paragraph (1) [amending this section] shall become effective on the date of publication of the interim regulations issued pursuant to paragraph (2)(A) [set out below]. ‘‘(B) EXCEPTION.—The amendment made by paragraph (1) shall apply to each primary loan servicing applica- tion submitted on or after the date of enactment of this Act [Dec. 13, 1991].’’ REGULATIONS Pub. L. 102–237, title V, § 501(d)(2), Dec. 13, 1991, 105 Stat. 1867, provided that: ‘‘(A) INTERIM REGULATIONS.—Notwithstanding section 553 of title 5, United States Code, as soon as practicable after the date of enactment of this Act [Dec. 13, 1991] and without a requirement for prior public notice and comment, the Secretary of Agriculture shall issue in- terim regulations that provide for the implementation of the amendment made by paragraph (1) [amending this section] beginning in crop year 1992. ‘‘(B) FINAL REGULATIONS.—The Secretary of Agri- culture shall provide for public notice and comment be- fore the issuance of final regulations to implement the amendment made by paragraph (1).’’ § 1981f. Underwriting forms and standards In the administration of this chapter, the Sec- retary shall, to the extent practicable, use un- derwriting forms, standards, practices, and ter- minology similar to the forms, standards, prac- tices, and terminology used by lenders in the private sector. (Pub. L. 87–128, title III, § 331F, as added Pub. L. 101–624, title XVIII, § 1808(a), Nov. 28, 1990, 104 Stat. 3820.) Editorial Notes REFERENCES IN TEXT This chapter, referred to in text, 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, which is classified principally to this chapter. For complete classification of title III to the Code, see Short Title note set out under section 1921 of this title and Tables. Statutory Notes and Related Subsidiaries REGULATIONS Pub. L. 101–624, title XVIII, § 1808(b), Nov. 28, 1990, 104 Stat. 3820, provided that: ‘‘The Secretary of Agriculture shall not issue final regulations providing for the use of ratios and standards for determining the degree of po- tential loan risk under section 331F of the Consolidated Farm and Rural Development Act [7 U.S.C. 1981f] (as added by subsection (a) of this section), prior to the submission of the study and report on the effects of the regulations required by section 621 of the Agricultural Credit Act of 1987 (7 U.S.C. 1989 note).’’ § 1982. Relief for mobilized military reservists from certain agricultural loan obligations (a) Definition of mobilized military reservist 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 emer- gency declared by the President or Congress, regardless of the location at which the active duty service is performed; or Page 1130 TITLE 7—AGRICULTURE § 1983 (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 Presi- dent 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 Presi- dent and supported by Federal funds. (b) Forgiveness of interest payments due while borrower is a mobilized military reservist Any requirement that a borrower of a direct loan made under this chapter make any interest payment on the loan that would otherwise be re- quired to be made while the borrower is a mobi- lized military reservist is rescinded. (c) Deferral of principal payments due while or after borrower is a mobilized military reserv- ist The due date of any payment of principal on a direct loan made to a borrower under this chap- ter that would otherwise be required to be made while or after the borrower is a mobilized mili- tary reservist is deferred for a period equal in length to the period for which the borrower is a mobilized military reservist. (d) Nonaccrual of interest 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) Borrower not considered to be delinquent or receiving debt forgiveness 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. (Pub. L. 87–128, title III, § 332, as added Pub. L. 108–375, div. A, title VI, § 664, Oct. 28, 2004, 118 Stat. 1974; amended Pub. L. 115–232, div. A, title XII, § 1204(a)(2), Aug. 13, 2018, 132 Stat. 2017.) 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 commit- tees, 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 ‘‘chap- ter 13’’ for ‘‘chapter 15’’. § 1983. Special conditions and limitations on loans In connection with loans made or insured under this chapter, the Secretary shall— (1) require the applicant (A) to certify in writing, and the Secretary shall determine, that he is unable to obtain sufficient credit elsewhere to finance his actual needs at rea- sonable rates and terms, taking into consider- ation prevailing private and cooperative rates and terms in the community in or near which the applicant resides for loans for similar pur- poses and periods of time, and (B) to furnish an appropriate written financial statement; (2) except with respect to a loan under sec- tion 1926, 1932, or 1944 of this title, require— (A) an annual review of the credit history and business operation of the borrower; and (B) an annual review of the continued eli- gibility of the borrower for the loan; (3) except for guaranteed loans, require an agreement by the borrower that if at any time it shall appear to the Secretary that the bor- rower may be able to obtain a loan from a pro- duction credit association, a Federal land bank, or other responsible cooperative or pri- vate credit source (or, in the case of a bor- rower under section 1934 of this title, the bor- rower may be able to obtain a loan under sec- tion 1922 of this title), at reasonable rates and terms for loans for similar purposes and peri- ods of time, the borrower will, upon request by the Secretary, apply for and accept such loan in sufficient amount to repay the Secretary or the insured lender, or both, and to pay for any stock necessary to be purchased in a coopera- tive lending agency in connection with such loan; (4) require such provision for supervision of the borrower’s operations as the Secretary shall deem necessary to achieve the objectives of the loan and protect the interests of the United States; (5) require the application of a person who is a veteran of any war, as defined in section 101(12) of title 38, for a loan under subchapter I or II to be given preference over a similar ap- plication from a person who is not a veteran of any war, if the applications are on file in a county or area office at the same time; (6) in the case of water and waste disposal di- rect and guaranteed loans provided under sec- tion 1926 of this title, encourage, to the max- imum extent practicable, private or coopera- tive lenders to finance rural water and waste disposal facilities by— (A) maximizing the use of loan guarantees to finance eligible projects in rural commu- nities in which the population exceeds 5,500; (B) maximizing the use of direct loans to finance eligible projects in rural commu- nities if the impact on ratepayers will be material when compared to financing with a loan guarantee; (C) establishing and applying a materiality standard when determining the difference in impact on ratepayers between a direct loan and a loan guarantee; (D) in the case of projects that require in- terim financing in excess of $500,000, requir-