7 U.S.C. § 2008h
Title 7
Chapter 50
Current through PL 116-220
~2 min read
Last updated: March 30, 2026
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- § 2008a
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- § 2008d
- § 2008e
- § 2008f
- § 2008g
- § 2008h
- § 2008i
- § 2008j
- § 2008k
- § 2008l
- § 2008m
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- § 2009a
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- § 2009bb
- § 2009c
- § 2009cc
- § 2009d
- § 2009e
- § 2009f
- § 2009g
- § 2009h
- § 2009i
- § 2009j
- § 2009k
- § 2009l
- § 2009m
- § 2009n
§ 2008h. Loan and loan servicing limitations
- (a) The Secretary may not make a direct operating loan under subchapter II to a borrower who is delinquent on any loan made or guaranteed under this chapter.
- (b)
- (1) Except as provided in paragraph (2)—
- (A) the Secretary may not make a loan under this chapter to a borrower that has received debt forgiveness on a loan made or guaranteed under this chapter; and
- (B) the Secretary may not guarantee a loan under this chapter to a borrower that has received—
- (i) debt forgiveness after April 4, 1996 , on a loan made or guaranteed under this chapter; or
- (ii) received debt forgiveness on more than 3 occasions on or before April 4, 1996 .
- (2)
- (A) The Secretary may make a direct or guaranteed farm operating loan for paying annual farm or ranch operating expenses of a borrower who—
- (i) was restructured with a write-down under section 2001 of this title ;
- (ii) is current on payments under a confirmed reorganization plan under chapters 1 1 So in original. Probably should be “chapter”. 11, 12, or 13 of title 11; or
- (iii) received debt forgiveness on not more than 1 occasion resulting directly and primarily from a major disaster or emergency designated by the President on or after April 4, 1996 , under the Robert T. Stafford Disaster Relief and Emergency Assistance Act ( 42 U.S.C. 5121 et seq.).
- (B)
- (i) The Secretary may make an emergency loan under section 1961 of this title to a borrower that—
- (I) on or before April 4, 1996 , received not more than 1 debt forgiveness on a loan made or guaranteed under this chapter; and
- (II) after April 4, 1996 , has not received debt forgiveness on a loan made or guaranteed under this chapter.
- (ii) For purposes of clause (i), a borrower who was restructured with a write-down or restructuring under section 2001 of this title shall not be considered to have received debt forgiveness on a loan made or guaranteed under this chapter.
- (i) The Secretary may make an emergency loan under section 1961 of this title to a borrower that—
- (A) The Secretary may make a direct or guaranteed farm operating loan for paying annual farm or ranch operating expenses of a borrower who—
- (1) Except as provided in paragraph (2)—
- (c) The Secretary may not provide to a borrower debt forgiveness on a direct loan made under this chapter if the borrower has received debt forgiveness on another direct loan made under this chapter.
Change History
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