§765.154. Distribution of payments.

7 C.F.R. § 765.154

The Agency applies both regular and extra payments to each loan in the following order, as applicable:

(a)

Recoverable costs and protective advances plus interest;

(b)

Deferred non-capitalized interest;

(c)

Accrued deferred interest;

(d)

Interest accrued to date of payment; and

(e)

Loan principal.

Notes, amendments, and revision history

Authority: 5 U.S.C. 301 and 7 U.S.C. 1989.

Source: 72 FR 63309, Nov. 8, 2007, unless otherwise noted.