7 CFR § 1788.1 - General and definitions.

---
identifier: "/us/cfr/t7/s1788.1"
source: "ecfr"
legal_status: "authoritative_unofficial"
title: "7 CFR § 1788.1 - General and definitions."
title_number: 7
title_name: "Agriculture"
section_number: "1788.1"
section_name: "General and definitions."
chapter_name: "RURAL UTILITIES SERVICE, DEPARTMENT OF AGRICULTURE"
part_number: "1788"
part_name: "RUS FIDELITY AND INSURANCE REQUIREMENTS FOR ELECTRIC AND TELECOMMUNICATIONS BORROWERS"
positive_law: false
currency: "2026-03-24"
last_updated: "2026-03-24"
format_version: "1.1.0"
generator: "[email protected]"
authority: "7 U.S.C. 901  7 U.S.C. 1921  7 U.S.C. 6941"
regulatory_source: "64 FR 2, Jan. 4, 1999, unless otherwise noted."
cfr_part: "1788"
---


# 1788.1 General and definitions.

(a) The standard forms of documents covering loans made or guaranteed by the Rural Utilities Service contain provisions regarding insurance and fidelity coverage to be maintained by each borrower. This part implements those provisions by setting forth the requirements to be met by all borrowers.

(b) As used in this part:

*Borrower* means any entity with any outstanding loan made or guaranteed by RUS.

*Irregularity* has the meaning found in § 1773.2.

*Loan documents* means the loan agreement, notes, and mortgage evidencing or used in conjunction with an RUS loan.

*Mortgage* means the mortgage, deed of trust, security agreement, or other security document securing an RUS loan.

*Mortgaged property* means any property subject to the lien of a mortgage.

*RUS* means the Rural Utilities Service and includes the Rural Telephone Bank.

*RUS loan* means a loan made or guaranteed by RUS.

(c) RUS may revise these requirements on a case by case basis for borrowers with unusual circumstances.