7 U.S. Code § 1923 - Purposes of loans
After the Secretary makes the determination required by paragraph (2), the Secretary may not make a loan to a farmer or rancher under this subchapter unless the farmer or rancher has, or agrees to obtain, hazard insurance on any real property to be acquired or improved with the loan.
2002—Subsec. (a)(1)(E). Pub. L. 107–171 added subpar. (E).
1996—Pub. L. 104–127 amended section generally, substituting present provisions for provisions outlining preferences for loans made or insured under this subchapter and defining terms “improving farms” and “qualified non-fossil energy system”.
1981—Subsec. (a). Pub. L. 97–98 substituted “who have dependent families” for “who are married or have dependent families”.
1980—Subsec. (b)(1). Pub. L. 96–438 substituted “the acquisition, installation, and modification” for “the acquisition and installation” and struck out “in any residential structure” after “energy system”.
1977—Pub. L. 95–113 designated existing provisions as subsec. (a) and added subsec. (b).
1968—Pub. L. 90–488 designated existing provisions as cls. (1), (2), (4), (5), and added cl. (3).
1962—Pub. L. 87–703 authorized loans to be made or insured for recreational uses and facilities.
Powers, duties, and assets of agencies, offices, and other entities within Department of Agriculture relating to rural development functions transferred to Rural Development Administration by section 2302(b) of Pub. L. 101–624.