See References in Text note below.
of this title.
Editorial Notes
References in Text

This chapter, referred to in subsecs. (a), (b)(1), (c), (f)(1)(B), and (g)(1), 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.


Pub. L. 110–234 and Pub. L. 110–246 made identical amendments to this section. The amendments by Pub. L. 110–234 were repealed by section 4(a) of Pub. L. 110–246.


2018—Subsec. (f)(1)(A). Pub. L. 115–334, § 5401(c)(1), made technical amendment to reference in original act which appears in text as reference to section 1989 of this title.

Subsec. (h). Pub. L. 115–334, § 6601(a)(2), struck out “1932(f),” after “1932(e),”.

2014—Subsec. (h). Pub. L. 113–79 added subsec. (h).

2008—Subsec. (g)(1)(B). Pub. L. 110–246, § 6012(b)(3), substituted “1932(a)(2)(A)” for “1932(a)(1)” in introductory provisions.

2002—Subsec. (g). Pub. L. 107–171, § 6019, added subsec. (g) and struck out former subsec. (g) which read as follows:

“(1) The Secretary shall provide to lenders a short, simplified application form for guarantees under this chapter of loans the principal amount of which is $125,000 or less.

“(2) In developing the application, the Secretary shall—

“(A) consult with commercial and cooperative lenders; and

“(B) ensure that—

“(i) the form can be completed manually or electronically, at the option of the lender;

“(ii) the form minimizes the documentation required to accompany the form;

“(iii) the cost of completing and processing the form is minimal; and

“(iv) the form can be completed and processed in an expeditious manner.”

Subsec. (g)(1). Pub. L. 107–171, § 5307, substituted “$125,000” for “$50,000”.

1996—Subsec. (f)(4). Pub. L. 104–127, § 637(1), inserted heading.

Subsec. (f)(4)(A). Pub. L. 104–127, § 637(1), designated first sentence of par. (4) as subpar. (A), inserted heading, and directed the substitution of “The Secretary shall provide a prospectus of a seasoned” for “With” and all that follows through “seasoned”, which was executed by making the substitution for all that follows through “seasoned” the first place appearing resulting in making the substitution for “With the approval of the borrower, the Secretary shall provide the prospectus of the seasoned”, to reflect the probable intent of Congress.

Subsec. (f)(4)(B), (C). Pub. L. 104–127, § 637(2), added subpar. (B), designated second sentence of par. (4) as subpar. (C), and inserted heading.

1992—Subsec. (a)(2). Pub. L. 102–554, § 13, designated existing provisions as subpar. (A), inserted “(other than under subchapter II of this chapter)” after “under this chapter”, and added subpar. (B).

Subsec. (f). Pub. L. 102–554, § 14, added subsec. (f).

Subsec. (g). Pub. L. 102–554, § 15, added subsec. (g).

1990—Subsec. (a)(4). Pub. L. 101–624, § 1811, added par. (4).

Subsec. (c). Pub. L. 101–624, § 2388(f), substituted “If” for “In”.

Statutory Notes and Related Subsidiaries
Effective Date of 2018 Amendment

Pub. L. 115–334, title V, § 5401(c)(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 14 of the Agricultural Credit Improvement Act of 1992 (Public Law 102–554).”

Effective Date of 2008 Amendment

Amendment of this section and repeal of Pub. L. 110–234 by Pub. L. 110–246 effective May 22, 2008, the date of enactment of Pub. L. 110–234, see section 4 of Pub. L. 110–246, set out as an Effective Date note under section 8701 of this title.

Effective Date

Pub. L. 99–198, title XIII, § 1312(b), Dec. 23, 1985, 99 Stat. 1525, provided that: “The amendment made by subsection (a) [enacting this section] shall be effective with respect to applications for loans or loan guarantees under the Consolidated Farm and Rural Development Act (7 U.S.C. 1921 et seq.) received by the Secretary of Agriculture after the date of enactment of this Act [Dec. 23, 1985].”