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Code of Federal Regulations Title 7. Agriculture § 7.1735.60 Specific provisions

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

(a) The standard form of RUS mortgage contains certain provisions concerning mergers and acquisitions:

(1) Article II, section 4(a) requires the borrower to obtain the written approval of the majority noteholders before taking any action to reorganize, or to consolidate with or merge into any other corporation.

(2) Article II, section 4(b), if made applicable, provides certain exceptions to the requirements of section 4(a).

(b) Similar provisions are contained in other forms of documents executed by borrowers that have not entered into the standard form of mortgage.

(c) Mortgages and loan contracts may contain other provisions concerning mergers and acquisitions.

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Cite this article: FindLaw.com - Code of Federal Regulations Title 7. Agriculture § 7.1735.60 Specific provisions - last updated January 02, 2025 | https://codes.findlaw.com/cfr/title-7-agriculture/cfr-sect-7-1735-60/

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