§ 1462. — Economic development; educational loans; limitation of loans to or investments in nonIndian organizations.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 25USC1462]
TITLE 25--INDIANS
CHAPTER 17--FINANCING ECONOMIC DEVELOPMENT OF INDIANS AND INDIAN
ORGANIZATIONS
SUBCHAPTER I--INDIAN REVOLVING LOAN FUND
Sec. 1462. Economic development; educational loans; limitation
of loans to or investments in non-Indian organizations
Loans may be made for any purpose which will promote the economic
development of (a) the individual Indian borrower, including loans for
educational purposes, and (b) the Indian organization and its members
including loans by such organizations to other organizations and
investments in other organizations regardless of whether they are
organizations of Indians: Provided, That not more than 50 per centum of
loan made to an organization shall be used by such organization for the
purpose of making loans to or investments in non-Indian organizations.
(Pub. L. 93-262, title I, Sec. 102, Apr. 12, 1974, 88 Stat. 78.)
