25 U.S.C. § 1499 — Limitation on guarantee of debt issues; approval of bond issue sale
submitted 38 years ago by Pub. L. 93-262 to r/title-25-INDIANS · 87 words · no verdicts yet
The Secretary may guarantee up to 90 percent of unpaid principal and interest on qualifying bond issues, which count as loans under listed sections. The Secretary must approve how the guaranteed issue is sold.
(a) The Secretary* may guarantee no more than 90 percent of the unpaid principal and interest on bonds, debentures, or similar obligations issued by an organization satisfactory to the Secretary. The issue is treated as a loan for sections 1482, 1483, 1484, 1485, 1486, 1489, 1490, 1491, 1493, 1494, 1495, 1496, and 1497 of this title.
(b) The Secretary must approve the method used to sell an issue guaranteed under this section.
The Secretary* may guarantee not to exceed 90 percent of the unpaid principal and interest due on an issue of bonds, debentures, or similar obligations issued by an organization satisfactory to the Secretary. Such an issue shall be deemed a loan for purposes of sections 1482, 1483, 1484, 1485, 1486, 1489, 1490, 1491, 1493, 1494, 1495, 1496, and 1497 of this title.
The method by which an issue of bonds guaranteed under this section may be sold shall be subject to approval by the Secretary.
Source credit: (Pub. L. 93–262, title II, § 220, as added Pub. L. 100–442, § 6, Sept. 22, 1988, 102 Stat. 1764.)
- 1988Enacted · Pub. L. 93-262 · 102 Stat. 1764
A history note hasn’t been published yet. The record shows enactment by Pub. L. 93-262 on 1988-09-22.
all 0 arguments · sorted by: best
no arguments yet — make the first case