7 CFR § 1962.1 - Purpose.

---
identifier: "/us/cfr/t7/s1962.1"
source: "ecfr"
legal_status: "authoritative_unofficial"
title: "7 CFR § 1962.1 - Purpose."
title_number: 7
title_name: "Agriculture"
section_number: "1962.1"
section_name: "Purpose."
chapter_name: "RURAL HOUSING SERVICE, RURAL BUSINESS-COOPERATIVE SERVICE, AND RURAL UTILITIES SERVICE, DEPARTMENT OF AGRICULTURE"
subchapter_number: "H"
subchapter_name: "PROGRAM REGULATIONS"
part_number: "1962"
part_name: "PERSONAL PROPERTY"
positive_law: false
currency: "2026-04-05"
last_updated: "2026-04-05"
format_version: "1.1.0"
generator: "[email protected]"
authority: "5 U.S.C. 301; 7 U.S.C. 1989; 42 U.S.C. 1480."
regulatory_source: "50 FR 45783, Nov. 1, 1985, unless otherwise noted."
cfr_part: "1962"
---


# 1962.1 Purpose.

This subpart delegates authorities and gives procedures for servicing, care, and liquidation of Rural Development chattel security, Economic Opportunity (EO) loan property, and note only loans. Security servicing for Nonprogram (NP) loans on farm property will be according to subpart J of part 1951 of this chapter. This subpart is inapplicable to Farm Service Agency, Farm Loan Programs.

[50 FR 45783, Nov. 1, 1985, as amended at 58 FR 52654, Oct. 12, 1993; 72 FR 64123, Nov. 15, 2007]