§ 1936. — Repealed.
[Laws in effect as of January 7, 2003]
[Document not affected by Public Laws enacted between
January 7, 2003 and December 19, 2003]
[CITE: 7USC1936]
TITLE 7--AGRICULTURE
CHAPTER 50--AGRICULTURAL CREDIT
SUBCHAPTER I--REAL ESTATE LOANS
Sec. 1936. Beginning farmer and rancher contract land sales
program
(a) In general
If the Secretary makes a determination that the risk is comparable
under subsection (b) of this section, the Secretary shall carry out a
pilot program in not fewer than 5 States, as determined by the
Secretary, to guarantee up to 5 loans per State in each of fiscal years
2003 through 2007 made by a private seller of a farm or ranch to a
qualified beginning farmer or rancher on a contract land sale basis, if
the loan meets applicable underwriting criteria and a commercial lending
institution agrees to serve as escrow agent.
(b) Date of commencement of program
Not later than October 1, 2002, the Secretary shall make a
determination on whether guarantees of contract land sales present a
risk that is comparable with the risk presented in the case of
guarantees to commercial lenders.
(Pub. L. 87-128, title III, Sec. 310F, as added Pub. L. 107-171, title
V, Sec. 5006, May 13, 2002, 116 Stat. 342.)
Prior Provisions
A prior section 1936, Pub. L. 87-128, title III, Sec. 310F, as added
Pub. L. 102-554, Sec. 7(b), Oct. 28, 1992, 106 Stat. 4146, related to
availability of farm ownership loans and loan guarantees for certain
qualified beginning farmers and ranchers, prior to repeal by Pub. L.
104-127, title VI, Sec. 616(b), Apr. 4, 1996, 110 Stat. 1090.
