7 CFR 1901.503 - Definitions.

§ 1901.503 Definitions.
(a) As used in §§ 1901.505, 1901.507, 1901.508 and 1901.509 the following definitions will apply:
(1) Announcement of sale. Any notice of terms and conditions respecting a sale of certificates.
(2) Certificate. A certificate of beneficial ownership issued by Farmers Home Administration (FmHA) or its successor agency under Public Law 103-354 under this subpart.
(3) Director, Finance Office. The Director or the Insured Loan Officer of the Finance Office of FmHA or its successor agency under Public Law 103-354.
(4) FmHA or its successor agency under Public Law 103-354. The United States acting through the Farmers Home Administration or its successor agency under Public Law 103-354.
(5) Finance Office. The office which maintains the FmHA or its successor agency under Public Law 103-354 finance records. It is located at 1520 Market Street, St. Louis, Missouri 63103. (Phone: 314-425-4400)
(6) Fixed period. Any time interval (preceding an option period) during which the insured holder is not entitled to require FmHA or its successor agency under Public Law 103-354 to purchase the insured note, as specified in the insurance agreement.
(7) Insurance agreement. The entire contract evidencing and setting forth the terms and conditions of FmHA or its successor agency under Public Law 103-354 insurance of the payment for the insured note. The insurance agreement with respect to any particular loan may be evidenced by Form FmHA or its successor agency under Public Law 103-354 440-5, “Insurance Endorsement (Insured Loan),” FmHA or its successor agency under Public Law 103-354 440-30, “Insurance Endorsement (Insured Loans),” or any other form or forms prescribed by the National Office and executed by an authorized official of FmHA or its successor agency under Public Law 103-354. It may include such provisions as, for example, an agreement of FmHA or its successor agency under Public Law 103-354 to purchase or repurchase the loan, or to make supplementary payments from the insurance fund.
(8) Insurance fund. The Agricultural Credit Insurance Fund authorized by section 309 of the Consolidated Farm and Rural Development Act, the Rural Development Insurance Fund authorized by section 309A of the Consolidated Farm and Rural Development Act, or the Rural Housing Insurance Fund authorized by section 517 of title V of the Housing Act of 1949.
(9) Insured holder. The current owner of an insured note other than FmHA or its successor agency under Public Law 103-354, according to the records of FmHA or its successor agency under Public Law 103-354 is insurer of the note.
(10) Insured note. Any promissory note or bond evidencing an insured loan regardless of whether it is held by FmHA or its successor agency under Public Law 103-354 in the insurance fund, by a private holder, or by FmHA or its successor agency under Public Law 103-354 as trustee.
(11) Loan. Loans made and held in the Agricultural Credit Insurance Fund, Rural Development Insurance Fund, or the Rural Housing Insurance Fund.
(12) National Office. The Administrator or other authorized officer of the FmHA or its successor agency under Public Law 103-354 in Washington, DC.
(13) Option period. Any period during which the insured holder has the optional right to require the FmHA or its successor agency under Public Law 103-354 to purchase the insured note, as specified in the insurance agreement.
(14) Par value. The total amount to which the insured holder is entitled under the terms of the insurance agreement.
(15) Private buyer. A buyer of an insured note other than FmHA or its successor agency under Public Law 103-354.
(16) Private holder. An insured holder other than FmHA or its successor agency under Public Law 103-354.
(17) Repurchase agreement. A provision in the insurance agreement obligating FmHA or its successor agency under Public Law 103-354 to buy the insured note at the option of the holders.
(18) Sale, or seller, and buyer. The transfer of ownership (including possession or the right of possession), the transferor, and the transferee respectively.
(19) State Director. The State Director of FmHA or its successor agency under Public Law 103-354 for the State in which is located the real estate improved, purchased, or refinanced with the loan evidenced by the insured note.
(b) As used in § 1901.506 the following definitions will apply:
(1) Reserve bank. The Federal Reserve Bank of New York (and any other Federal Reserve Bank which agrees to issue securities in book-entry form) as fiscal agent of the United States acting on behalf of FmHA or its successor agency under Public Law 103-354 and, when indicated, acting in its individual capacity.
(2) FmHA or its successor agency under Public Law 103-354 security. A certificate representing beneficial ownership of notes, bonds, debentures, or other similar obligations held by FmHA or its successor agency under Public Law 103-354 under the Consolidated Farm and Rural Development Act and title V of the Housing Act of 1949, issued in the form of a definitive FmHA or its successor agency under Public Law 103-354 security or a book-entry FmHA or its successor agency under Public Law 103-354 security.
(3) Definitive FmHA or its successor agency under Public Law 103-354 security. An FmHA or its successor agency under Public Law 103-354 security in engraved on printed form.
(4) Book-entry FmHA or its successor agency under Public Law 103-354 security. An FmHA or its successor agency under Public Law 103-354 security in the form of an entry made as prescribed in this subpart on the records of a Reserve bank.
(5) Pledge. A pledge of, or any other security interest in, FmHA or its successor agency under Public Law 103-354 securities as collateral for loans or advances, or to secure deposits of public moneys or the performance of an obligation.
(6) Date of call. The date fixed in the official notice of call published in the Federal Register on which FmHA or its successor agency under Public Law 103-354 will make payment of the security before maturity in accordance with its terms.
(7) Member bank. Any national bank, state bank, or bank or trust company which is a member of a Reserve bank.

Title 7 published on 2014-01-01

no entries appear in the Federal Register after this date.

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United States Code
U.S. Code: Title 7 - AGRICULTURE
U.S. Code: Title 16 - CONSERVATION
U.S. Code: Title 42 - THE PUBLIC HEALTH AND WELFARE
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