FEDERAL · 25 U.S.C. · Chapter SUBCHAPTER II—LOAN GUARANTY AND INSURANCE
Loan refusal; conditions; prohibition against acquisition of additional loans; payment of claims on loans made in good faith
25 U.S.C. § 1493
Title25 — Indians
ChapterSUBCHAPTER II—LOAN GUARANTY AND INSURANCE
This text of 25 U.S.C. § 1493 (Loan refusal; conditions; prohibition against acquisition of additional loans; payment of claims on loans made in good faith) is published on Counsel Stack Legal Research, covering United States primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
25 U.S.C. § 1493.
Text
Whenever the Secretary finds that any lender or holder of a guaranty certificate fails to maintain adequate accounting records, or to demonstrate proper ability to service adequately loans guaranteed or insured, or to exercise proper credit judgment, or has willfully or negligently engaged in practices otherwise detrimental to the interests of a borrower or of the United States, he may refuse, either temporarily or permanently, to guarantee or insure any further loans made by such lender or holder, and may bar such lender or holder from acquiring additional loans guaranteed or insured hereunder: Provided, That the Secretary shall not refuse to pay a valid guaranty or insurance claim on loans previously made in good faith.
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Related
United National Bank v. United States Department of the Interior
54 F. Supp. 2d 1309 (S.D. Florida, 1998)
Source Credit
History
(Pub. L. 93–262, title II, §213, Apr. 12, 1974, 88 Stat. 81.)
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Bluebook (online)
25 U.S.C. § 1493, Counsel Stack Legal Research, https://law.counselstack.com/usc/25/1493.