§761.402. Abbreviations and definitions.
7 C.F.R. § 761.402
Abbreviations and definitions for terms used in this subpart are provided in 7 CFR part 3 and § 761.2.
Definitions used only in this subpart include—
Third party converter means an individual or entity who:
Is in possession of agency security property, or money from the sale of security, in relation to a loan or other debt that the individual or entity was not liable for; or
Assists, or participates knowingly or unknowingly, in the transportation or sale of agency security, in relation to a loan or other debt that the individual or entity was not liable for; or
Assists, or participates knowingly or unknowingly, in temporarily or permanently relocating or concealing the location of agency security property, or money from the sale of agency security, in relation to a loan or other debt that the individual or entity was not liable for.
[Reserved]
Notes, amendments, and revision history
Source
Source: 85 FR 36691, June 17, 2020, unless otherwise noted.
Authority
Authority: 5 U.S.C. 301 and 7 U.S.C. 1989.
Source
Source: 72 FR 63285, Nov. 8, 2007, unless otherwise noted.