§1786.157. Approval of applications.
7 C.F.R. § 1786.157
Ordinarily, within 30 days of receipt, an application will be reviewed and the borrower will be notified as to whether the application has been approved. If the application has not been approved, the borrower will be informed as to the reasons. If the application is approved the borrower shall thereafter be provided with a prepayment agreement for execution.
The Administrator may limit the number of applications approved and closings scheduled from time to time, taking into account, among other matters, administrative considerations of the RUS.
Notes, amendments, and revision history
Authority
Authority: 7 U.S.C. 901 et seq.; Pub. L. 103-354, 108 Stat. 3178 (7 U.S.C. 6941 et seq. ).
Source
Source: 59 FR 13620, Mar. 22, 1994, unless otherwise noted.
Authority
Authority: 7 U.S.C. 901-950b; Title I, subtitle B, Pub. L. 99-509; Pub. L. 101-624, 104 Stat. 4051; Pub. L. 103-354, 108 Stat. 3178, (7 U.S.C. 6941 et seq. ), unless otherwise noted.
Source
Source: 55 FR 1145, Jan. 11, 1990, unless otherwise noted.