WHAT THE LAW DOINCongress, in plain words

The law › Title 7, Agriculture › Chapter 50

7 U.S.C. 2001: Debt restructuring and loan servicing

Created in 1988 by Public Law 87-128. Changed by 7 later laws. No bill we track in this Congress changes it.

5 other sections of the Code cite this one, including 7 U.S.C. 1985, 7 U.S.C. 1991, 7 U.S.C. 2001a, 7 U.S.C. 2005, 7 U.S.C. 2008h.

This Congress

No bill we track in the 119th Congress changes this section.

    How it got here

    2002

    • Pub. L. 107–171 added subpar. (D). (Farm Security and Rural Investment Act of 2002) Law text · (e)

    2000

    • Pub. L. 106–387 added par. (7). (Agriculture, Rural Development, Food and Drug Administration, and Related Agencies Appropriations Act, 2001) Law text · (e)

    1999

    • Pub. L. 106–31 substituted "110 percent" for "100 percent". (1999 Emergency Supplemental Appropriations Act) Law text · (c)

    1998

    • Pub. L. 105–277, §101(a) [title VIII, §808], substituted "100 percent" for "110 percent". (Agriculture, Rural Development, Food and Drug Administration, and Related Agencies Appropriations Act, 1999) Law text · (c)
    • Pub. L. 105–277, §101(a) [title VIII, §807], added par. (6). (Agriculture, Rural Development, Food and Drug Administration, and Related Agencies Appropriations Act, 1999) Law text · (e)

    1996

    • Pub. L. 104–127, §645(1)(A), added subpar. (C) and struck out heading and text of former subpar. (C). Text read as follows: (Federal Agriculture Improvement and Reform Act of 1996) Law text · (c)
    • Pub. L. 104–127, §645(1)(B), added par. (6) and struck out former par. (6), which specified required conditions for termination of loan obligations, limited applicability of good faith requirement, authorized recapture by requiring borrower to enter into agreement before terminating… (Federal Agriculture Improvement and Reform Act of 1996) Law text · (c)
    • Pub. L. 104–127, §645(2), (3), redesignated subsec. (l) as (k) and struck out heading and text of former subsec. (k). Text read as follows: "The creditworthiness of, or the adequacy of collateral offered by, any borrower whose loan obligations are restructured under this section shall … (Federal Agriculture Improvement and Reform Act of 1996) Law text · (k)
    • Pub. L. 104–127, §661(j), struck out "and subparagraphs (A)(i) and (C)(i) of section 1985(e)(1) of this title," before "if a borrower" in introductory provisions. (Federal Agriculture Improvement and Reform Act of 1996) Law text · (l)
    • Pub. L. 104–127, §645(3), redesignated subsec. (m) as (l). (Federal Agriculture Improvement and Reform Act of 1996) Law text · (l)
    • Pub. L. 104–127, §645(3), redesignated subsecs. (m) to (p) as (l) to (o), respectively. (Federal Agriculture Improvement and Reform Act of 1996) Law text · (m), (n), (o), (p)

    1991

    • Pub. L. 102–237, §501(h)(1), substituted "November 28, 1990" for "the date of enactment of this paragraph". · (c)
    • Pub. L. 102–237, §501(h)(2), substituted "section 1985(e)(1)" for "section 1985(e)(1)(A)". · (m)

    1990

    • Pub. L. 101–624, §1816(a), inserted before semicolon at end ", except that the regulations shall require that, if the value of the assets calculated under subsection (c)(2)(A)(ii) that may be realized through liquidation or other methods would produce enough income to make the delin… · (b)
    • Pub. L. 101–624, §1816(b)(1), amended subpar. (A) generally. Prior to amendment, subpar. (A) read as follows: "the amount of the current appraised value of the property securing the loan; less". · (c)
    • Pub. L. 101–624, §1816(b)(2)(A), substituted "costs; plus" for "costs." · (c)
    • Pub. L. 101–624, §1816(b)(2)(B), added subpar. (C). · (c)
    • Pub. L. 101–624, §1816(c), added subpar. (C). · (c)
    • Pub. L. 101–624, §1816(d), substituted "90" for "60" in introductory provisions. · (c)
    • Pub. L. 101–624, §1816(f), amended par. (6) generally. Prior to amendment, par. (6) read as follows: "If the value of the restructured loan is less than the recovery value and if, within 45 days after receipt of the notification described in paragraph (4)(B), the borrower pays (or o… · (c)
    • Pub. L. 101–624, §1816(g), added par. (7). · (c)
    • Pub. L. 101–624, §1816(h), added subsecs. (l) to (p). · (l), (m), (n), (o), (p)

    Text, outline and history from the official U.S. Code (2024 edition) on GovInfo, published by the Office of the Law Revision Counsel. Changes made after that edition appear under This Congress.