Agricultural credit associations.

CFR · 2024-01-01 · US · Title 12

(a) (1) Long-term real estate mortgage loans with maturities of not less than 5 nor more than 40 years, and continuing commitments to make such loans; and (2) Short- and intermediate-term loans and provide other similar financial assistance for a term of not more than: (i) 10 years; or (ii) 15 years to aquatic producers and harvesters for their aquatic operations. (b) (1) Farm Credit banks and associations that are direct lenders and lenders that are not Farm Credit institutions on loans of the type it is authorized to make under titles I and II of the Act; (2) Farm Credit banks and associations that are direct lenders on loans of the type it is not authorized to make, provided the borrower eligibility, membership, term, amount, loan security, and stock or participation certificate requirements of the originating institution are met; and (3) The Federal Agricultural Mortgage Corporation to the extent provided in § 614.4055. (c) (i) Interests in loans made under paragraph (a)(1) of this section only to: (A) Farm Credit System institutions, as authorized by their respective funding banks; (B) Lenders that are not Farm Credit System institutions, as authorized by their respective funding banks; and (C) Any certified agricultural mortgage marketing facility, as defined by section 8.0(3) of the Act, for the purpose of pooling and securitizing such loans under title VIII of the Act. (ii) Interests in loans made under paragraph (a)(2) of this section only to: (A) Banks of the Farm C

official document · source cfr-2024 · id 12:§ 614.4050