§1951.859. Term of loans.
7 C.F.R. § 1951.859
No loans shall be extended for a period exceeding 30 years. Principal payments on loans will be made at least annually. The initial principal payment may be deferred not more than 3 years.
The terms of loan repayment will be those stipulated in the loan agreement and/or promissory note.
Notes, amendments, and revision history
Source
Source: 53 FR 30656, Aug. 15, 1988, unless otherwise noted.
Authority
Authority: 5 U.S.C. 301; 7 U.S.C 1932 note; 7 U.S.C. 1989; 31 U.S.C. 3716; 42 U.S.C. 1480.