7 U.S.C. § 1981d
The Secretary shall provide notice by certified mail to each borrower who is at least 90 days past due on the payment of principal or interest on a loan made or insured under this chapter.
The notice required under subsection (a) shall-
All notices required by this section shall be contained in the regulations implementing this chapter.
The notice described in subsection (b) shall be provided-
The Secretary shall consider a farmer program borrower for all loan service programs if, within 60 days after receipt of the notice required in this section or, in extraordinary circumstances as determined by the applicable State director, after the 60-day period, the borrower requests such consideration in writing. In considering a borrower for loan service programs, the Secretary shall place the highest priority on the preservation of the borrower's farming operations.
7 U.S.C. § 1981d
EDITORIAL NOTES
REFERENCES IN TEXTThis chapter, referred to in subsecs. (a) and (c), 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.
AMENDMENTS2018-Subsec. (e). Pub. L. 115-334 inserted "or, in extraordinary circumstances as determined by the applicable State director, after the 60-day period" after "within 60 days after receipt of the notice required in this section". 1996-Subsec. (a). Pub. L. 104-127 substituted "90 days past due on" for "180 days delinquent in". 1992-Subsec. (e). Pub. L. 102-554 which directed the insertion of "or, in extraordinary circumstances as determined by the applicable State director, after the 60-day period" after "not later than 60 days after receipt of the notice required in this section", could not be executed because the phrase "not later than 60 days after receipt of the notice required in this section" did not appear in text. Corrected amendment was made by Pub. L. 115-334 effective as if included in Pub. L. 102-554. See 2018 Amendment note above and Effective Date of 2018 Amendment note below. 1990-Subsec. (b)(1). Pub. L. 101-624, §1807(1), inserted "debt settlement programs," after "preservation loan service programs".Subsec. (e). Pub. L. 101-624, §1807(2), substituted "60 days" for "45 days".
STATUTORY NOTES AND RELATED SUBSIDIARIES
EFFECTIVE DATE OF 2018 AMENDMENT Pub. L. 115-334, title V, §5401(b)(2), Dec. 20, 2018, 132 Stat. 4674, provided that: "The amendment made by this subsection [amending this section] shall take effect as if included in the enactment of section 10 of the Agricultural Credit Improvement Act of 1992 (Public Law 102-554)."
EFFECTIVE DATE OF 1996 AMENDMENT Amendment by Pub. L. 104-127 effective 90 days after Apr. 4, 1996, see section 663(b) of Pub. L. 104-127 set out as a note under section 1922 of this title.
EFFECTIVE DATE OF 1990 AMENDMENT Amendment by section 1807(1) of Pub. L. 101-624 effective 120 days after Nov. 28, 1990, see section 1861(b) of Pub. L. 101-624 set out as a note under section 2001 of this title.
- 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.
- farmer
- The term "farmer" includes a person who is engaged in, or who, with assistance afforded under this chapter, intends to engage in, fish farming.
- loan service program
- The term "loan service program" means, with respect to a farmer program borrower, a primary loan service program or a preservation loan service program.