§761.2. Abbreviations and definitions. — Inbound Citations

(a) Abbreviations and definitions for terms used in this subpart are provided in 7 CFR part 3 and § 761.2.

Abbreviations and definitions for terms used in this part are provided in § 761.2 of this chapter.

Abbreviations and definitions for terms used in this part are in § 761.2 of this chapter.

(i) Each entity member's ownership interest may not exceed the amount specified in the family farm definition in § 761.2 of this chapter.

Abbreviations and definitions for terms used in this part are provided in § 761.2 of this chapter.

(15) For CL only, a conservation plan or Forest Stewardship Management Plan as defined in § 761.2 of this chapter; and

Abbreviations and definitions for terms used in this part are provided in § 761.2 of this chapter.

Abbreviations and definitions for terms used in this part are provided in § 761.2 of this chapter.

Abbreviations and definitions for terms used in this part are provided in § 761.2 of this chapter.

Abbreviations and definitions used in this subpart are found in § 761.2 of this chapter.

(2) Have a lender loss rate not in excess of the maximum CLP loss rate established by the Agency and published periodically in a Federal Register Notice. The Agency may waive the loss rate criteria for those lenders whose loss rate was substantially affected by a disaster as defined in § 761.2(b) and part 759 of this chapter.

(6) The remaining liable party projects a feasible plan (see § 761.2(b) of this chapter).

(iii) An independent appraisal report on all collateral securing the loan that meets the requirements of § 762.127 and a calculation of the net recovery value of the security as defined in ;§ 761.2(b) of this chapter. The appraisal requirement may be waived by the Agency in the following cases:

(A) The bankruptcy trustee is handling the liquidation and the lender has submitted the trustee's determination of value;

(B) The lender's proposed method of liquidation rarely results in receipt of less than market value for livestock and used equipment; or

(C) A purchase offer has already been received for more than the debt;

(5) A borrower may only receive interest assistance if their total debts (including personal debts) prior to the new loan exceed 50 percent of their total assets (including personal assets). An entity's debt to asset ratio will be based upon a financial statement that consolidates business and personal debts and assets of the entity and its members. Beginning farmers § 761.2(b) of this chapter, as defined in § 762.102, are excluded from this requirement.

(a) The buyer's proposed operation as described in a form acceptable to the Agency must represent the operating cycle for the farm operation and must project a feasible plan as defined in § 761.2(b) of this chapter.