qualified loan

(9)The term “qualified loan” means an obligation— (B)that is the portion of a loan guaranteed by the Secretary of Agriculture pursuant to the Consolidated Farm and Rural Development Act (et seq.), except that— (i)subsections (b) through (d) ofsection 2279aa–6 of this title, and, shall not apply to the portion of a loan guaranteed by the Secretary or to an obligation, pool, or security representing an interest in or obligation backed by a pool of obligations relating to the portion of a loan guaranteed by the Secretary; and (ii)the portion of a loan guaranteed by the Secretary shall be considered to meet all standards for qualified loans for all purposes under this chapter; or (C)that is a loan, or an interest in a loan, for an electric or telephone facility by a cooperative lender to a borrower that has received, or is eligible to receive, a loan under the Rural Electrification Act of 1936 (7 U.S.C. 901et seq.).

Source

12 USC § 2279aa(9)


Scoping language

For purposes of this subchapter
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