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Current as of January 01, 2024 | Updated by Findlaw Staff
If, after making a loan or a grant described in section 2009d(d) of this title, the Secretary determines that the circumstances under which the loan or grant was made have sufficiently changed to make the project or activity for which the loan or grant was made available no longer appropriate, the Secretary may allow the loan borrower or grant recipient to use property (real and personal) purchased or improved with the loan or grant funds, or proceeds from the sale of property (real and personal) purchased with such funds, for another project or activity that (as determined by the Secretary)--
(1) will be carried out in the same area as the original project or activity;
(2) meets the criteria for a loan or a grant described in section 2009d(d) of this title; and
(3) satisfies such additional requirements as are established by the Secretary.
Cite this article: FindLaw.com - 7 U.S.C. § 1936a - U.S. Code - Unannotated Title 7. Agriculture § 1936a. Use of rural development loans and grants for other purposes - last updated January 01, 2024 | https://codes.findlaw.com/us/title-7-agriculture/7-usc-sect-1936a/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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