
From the U.S. Code Online via GPO Access
[wais.access.gpo.gov]
[Laws in effect as of January 2, 2001]
[Document not affected by Public Laws enacted between
  January 2, 2001 and January 28, 2002]
[CITE: 7USC1929b]

 
                          TITLE 7--AGRICULTURE
 
                     CHAPTER 50--AGRICULTURAL CREDIT
 
                     SUBCHAPTER I--REAL ESTATE LOANS
 
Sec. 1929b. Purchase of guaranteed portions of loans; terms and 
        conditions; exercise of authorities
        
    The Secretary may purchase, on such terms and conditions as the 
Secretary deems appropriate, the guaranteed portion of any loan 
guaranteed under this chapter: Provided, That the Secretary may not pay 
for any such guaranteed portion of a loan in excess of an amount equal 
to the unpaid principal balance and accrued interest on the guaranteed 
portion of the loan. The Secretary may use for such purchases funds from 
the Rural Development Insurance Fund with respect to rural development 
loans as defined in section 1929a(a) of this title and funds from the 
Agricultural Credit Insurance Fund with respect to all other loans under 
this chapter. This authority may be exercised only if the Secretary 
determines that an adequate secondary market is not available in the 
private sector.

(Pub. L. 87-128, title III, Sec. 309B, as added Pub. L. 95-334, title I, 
Sec. 111, Aug. 4, 1978, 92 Stat. 424.)

                       References in Text

    For definition of ``this chapter'', referred to in text, see note 
set out under section 1921 of this title.

                  Section Referred to in Other Sections

    This section is referred to in section 2001 of this title.
