7 U.S.C. § 1949
The Secretary shall establish a plan, in coordination with activities under sections 2006a, 2006b, 2006c, and 2006d of this title, to encourage each borrower with an outstanding loan under this subchapter or with respect to whom there is an outstanding guarantee under this subchapter to graduate to private commercial or other sources of credit.
7 U.S.C. § 1949
EDITORIAL NOTES
AMENDMENTS2014- Pub. L. 113-79 struck out subsec. (a) designation and heading before "The Secretary" and struck out subsec. (b) which related to limitation on period borrowers were eligible for guaranteed assistance under this subchapter and contained transition rule.1996-Subsec. (b). Pub. L. 104-127 added subsec. (b) and struck out former subsec. (b) which provided for limitation on period for which borrowers were eligible for assistance under this subchapter and contained transition rule.
STATUTORY NOTES AND RELATED SUBSIDIARIES
SUSPENSION OF LIMITATION ON PERIOD FOR WHICH BORROWERS ARE ELIGIBLE FOR GUARANTEED ASSISTANCE Pub. L. 107-171, title V, §51025102,, 116 Stat. 343, as amended by Pub. L. 109-467, §1, Dec. 22, 2006, 120 Stat. 3485; Pub. L. 110-234, title V, §51035103,, 122 Stat. 1146; Pub. L. 110-246, §4(a), title V, §5103, June 18, 2008, 122 Stat. 1664, 1908, provided for the suspension of former 7 U.S.C. 1949(b) limitation on period borrowers were eligible for guaranteed assistance, beginning Jan. 1, 2002, and ending Dec. 31, 2010.
- borrower
- The term "borrower" means any farm borrower who has outstanding obligations to the Secretary under any farmer program loan, without regard to whether the loan has been accelerated, but does not include any farm borrower all of whose loans and accounts have been foreclosed on or liquidated, voluntarily or otherwise.