{"identifier":"/us/usc/t42/s9812a","title":42,"num":"\u00a7\u202f9812a.","heading":"Interest rates payable on certain rural development loans; assignment of loan contracts","text":"\u00a7\u202f9812a.\nInterest rates payable on certain rural development loans; assignment of loan contracts\n(a)\nModification of interest rates\nNotwithstanding any other provision of law\u2014\n(1) any outstanding loan made after\nDecember 31, 1982\n(2) any loan made after\nSeptember 30, 1986\nwith moneys from the Rural Development Loan Fund established by\nsection 9812(c)(1) of this title\nOctober 27, 1998\nsection 9910(a) of this title\nOctober 27, 1998\nDecember 31, 1982\n(b)\nAssignment of certain loan contracts\nAny contract for a loan made during the period beginning on\n(1) moneys from the Rural Development Loan Fund established by\nsection 9812(c)(1) of this title\n(2) funds available (before\nOctober 27, 1998\nsection 9910(a) of this title\nOctober 27, 1998\nto an intermediary borrower that is a county government may be assigned by such borrower to an entity to which such loan could have been made for the purpose for which such contract was made. Any entity to which such contract is so assigned shall be substituted as a party to such contract and shall be obligated to carry out such contract and the purpose for which such contract was made.","url":"https://projectusc.org/usc/t42/s9812a.html","content":[{"t":"sec","id":"/us/usc/t42/s9812a","children":[{"t":"num","text":"\u00a7\u202f9812a."},{"t":"heading","text":"Interest rates payable on certain rural development loans; assignment of loan contracts"},{"t":"subsec","id":"/us/usc/t42/s9812a/a","children":[{"t":"num","text":"(a)"},{"t":"heading","text":"Modification of interest rates"},{"t":"chapeau","text":"Notwithstanding any other provision of law\u2014"},{"t":"para","id":"/us/usc/t42/s9812a/a/1","children":[{"t":"num","text":"(1)"},{"t":"content","text":" any outstanding loan made after ","children":[{"t":"text","text":"December 31, 1982","tail":", by the Secretary of Health and Human Services; or"}],"tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t42/s9812a/a/2","children":[{"t":"num","text":"(2)"},{"t":"content","text":" any loan made after ","children":[{"t":"text","text":"September 30, 1986","tail":";"}],"tail":"\n"}],"tail":"\n\n"},{"t":"continuation","text":"with moneys from the Rural Development Loan Fund established by ","children":[{"t":"ref","text":"section 9812(c)(1) of this title","href":"/us/usc/t42/s9812/c/1","tail":" or with funds available (before "},{"t":"text","text":"October 27, 1998","tail":") under "},{"t":"ref","text":"section 9910(a) of this title","href":"/us/usc/t42/s9910/a","tail":" (as in effect before "},{"t":"text","text":"October 27, 1998","tail":") to an intermediary borrower shall bear interest at a fixed rate equal to the rate of interest that was in effect on the date of issuance for loans made in 1980 with such moneys or such funds if the weighted average rate of interest for all loans made after "},{"t":"text","text":"December 31, 1982","tail":", by such intermediary borrower with such moneys or such funds does not exceed the sum of 6 percent and the rate of interest payable under this subsection by such intermediary borrower."}],"tail":"\n"}],"tail":"\n"},{"t":"subsec","id":"/us/usc/t42/s9812a/b","children":[{"t":"num","text":"(b)"},{"t":"heading","text":"Assignment of certain loan contracts"},{"t":"chapeau","text":"Any contract for a loan made during the period beginning on ","children":[{"t":"text","text":"December 31, 1982","tail":", and ending on "},{"t":"text","text":"September 30, 1986","tail":", with\u2014"}]},{"t":"para","id":"/us/usc/t42/s9812a/b/1","children":[{"t":"num","text":"(1)"},{"t":"content","text":" moneys from the Rural Development Loan Fund established by ","children":[{"t":"ref","text":"section 9812(c)(1) of this title","href":"/us/usc/t42/s9812/c/1","tail":"; or"}],"tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t42/s9812a/b/2","children":[{"t":"num","text":"(2)"},{"t":"content","text":" funds available (before ","children":[{"t":"text","text":"October 27, 1998","tail":") under "},{"t":"ref","text":"section 9910(a) of this title","href":"/us/usc/t42/s9910/a","tail":" (as in effect before "},{"t":"text","text":"October 27, 1998","tail":");"}],"tail":"\n"}],"tail":"\n\n"},{"t":"continuation","text":"to an intermediary borrower that is a county government may be assigned by such borrower to an entity to which such loan could have been made for the purpose for which such contract was made. Any entity to which such contract is so assigned shall be substituted as a party to such contract and shall be obligated to carry out such contract and the purpose for which such contract was made.","tail":"\n"}],"tail":"\n"},{"t":"text","text":"\n"},{"t":"text","text":"\n"}]}]}