FEDERAL · 38 U.S.C. · Chapter 37
Approval of loans by the Secretary
Current through Pub. L. 119-102
(a)Except as provided in subsection (b) of this section, a loan may not be guaranteed under this subchapter unless, before the closing of the loan, it is submitted to the Secretary for approval and the Secretary grants approval.
(b)The Secretary may exempt any lender of a class of lenders listed in section 3702(d) of this title from the prior approval requirement in subsection (a) of this section if the Secretary determines that the experience of such lender or class of lenders warrants such exemption.
(c)The Secretary may at any time upon thirty days' notice require loans to be made by any lender or class of lenders under this subchapter to be submitted to the Secretary for prior approval. No guaranty shall exist with respect to any such loan unless evidence of the guaranty is issued b
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38 U.S.C. § 3744 (Approval of loans by the Secretary) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Related
§ 3702
38 U.S.C. § 3702
Source Credit
History
(Added Pub. L. 97–72, title III, §302(a), Nov. 3, 1981, 95 Stat. 1057, §1844; amended Pub. L. 101–237, title III, §313(b)(1), Dec. 18, 1989, 103 Stat. 2077; renumbered §3744 and amended Pub. L. 102–83, §5(a), (c)(1), Aug. 6, 1991, 105 Stat. 406.)
Editorial Notes
Editorial Notes
Amendments
1991—Pub. L. 102–83, §5(a), renumbered section 1844 of this title as this section.
Subsec. (b). Pub. L. 102–83, §5(c)(1), substituted "3702(d)" for "1802(d)".
1989—Pub. L. 101–237 substituted "Secretary" for "Administrator" in section catchline and wherever appearing in text.
Amendments
1991—Pub. L. 102–83, §5(a), renumbered section 1844 of this title as this section.
Subsec. (b). Pub. L. 102–83, §5(c)(1), substituted "3702(d)" for "1802(d)".
1989—Pub. L. 101–237 substituted "Secretary" for "Administrator" in section catchline and wherever appearing in text.