25 U.S.C. § 1486 — Loans ineligible for guaranty or insurance

submitted 52 years ago by Pub. L. 93-262 to r/title-25-INDIANS · 62 words · no verdicts yet

in plain englishAI-generated · not legal advice

Certain loans are excluded from guaranty or insurance.

Loans made by a Federal agency or instrumentality, except an eligible Community Development Finance Institution; loans made by an Indian organization using money borrowed from the United States; and loans whose interest is excluded from gross income under chapter 1 of title 26 are not eligible for guaranty or insurance under this subchapter.

the actual law source: uscode.house.gov ↗public domain

Loans made by any agency or instrumentality of the Federal Government (not including an eligible Community Development Finance Institution), or by an organization of Indians from funds borrowed from the United States, and loans the interest on which is not included in gross income for the purposes of chapter 1 of title 26 shall not be eligible for guaranty or insurance hereunder.

Source credit: (Pub. L. 93–262, title II, § 206, Apr. 12, 1974, 88 Stat. 80; Pub. L. 99–514, § 2, Oct. 22, 1986, 100 Stat. 2095; Pub. L. 109–221, title IV, § 401(c), May 12, 2006, 120 Stat. 342.)

history & why it existsrecord from the source credit

1974Enacted · Pub. L. 93-262 · 88 Stat. 80
1986Amended · Pub. L. 99-514 · 100 Stat. 2095
2006Amended · Pub. L. 109-221 · 120 Stat. 342

A history note hasn’t been published yet. The record shows enactment by Pub. L. 93-262 on 1974-04-12.

all 0 arguments · sorted by: best

no arguments yet — make the first case