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Code of Federal Regulations Title 7. Agriculture § 7.1714.59 Rescission of loans

Current as of January 02, 2025 | Updated by Findlaw Staff

(a) A borrower may request rescission of a loan with respect to any funds unadvanced by submitting a certified copy of a resolution by the borrower's board of directors.

(b) RUS may rescind loans pursuant to § 1714.56.

(c) Borrowers who prepay RUS loans at a discounted present value pursuant to 7 CFR part 1786, subpart F, are required to rescind the unadvanced balance of all outstanding electric notes pursuant to 7 CFR 1786.158(j).

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Cite this article: FindLaw.com - Code of Federal Regulations Title 7. Agriculture § 7.1714.59 Rescission of loans - last updated January 02, 2025 | https://codes.findlaw.com/cfr/title-7-agriculture/cfr-sect-7-1714-59/

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