(5) Loan (A) In general Subject to subparagraph (B), the term “loan” means a loan made to a farmer, rancher, or producer or harvester of aquatic products, for any agricultural or aquatic purpose and other credit needs of the borrower, including financing for basic processing and marketing directly related to the borrower’s operations and those of other eligible farmers, ranchers, and producers or harvesters of aquatic products. (B) Exclusion for loans designated for sale into secondary market (i) In general Except as provided in clause (ii), the term “loan” does not include a loan made on or after February 10, 1996 , that is designated, at the time the loan is made, for sale into a secondary market. (ii) Unsold loans (I) In general Except as provided in subclause (II), if a loan designated for sale under clause (i) is not sold into a secondary market during the 180-day period that begins on the date of the designation, the provisions of this section and sections 2202 , 2202b , 2202d , and 2219a of this title that would otherwise apply to the loan in the absence of the exclusion described in clause (i) shall become effective with respect to the loan. (II) Later sale If a loan described in subclause (I) is sold into a secondary market after the end of the 180-day period described in subclause (I), subclause (I) shall not apply with respect to the loan beginning on the date of the sale.


12 USC § 2202a(a)(5)

Scoping language

As used in this part
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