7 USC § 1992 - Loan limitations

---
identifier: "/us/usc/t7/s1992"
source: "usc"
legal_status: "official_prima_facie"
title: "7 USC § 1992 - Loan limitations"
title_number: 7
title_name: "AGRICULTURE"
section_number: "1992"
section_name: "Loan limitations"
chapter_number: 50
chapter_name: "AGRICULTURAL CREDIT"
subchapter_number: "IV"
subchapter_name: "ADMINISTRATIVE PROVISIONS"
positive_law: false
currency: "119-84"
last_updated: "2026-04-17"
format_version: "1.1.0"
generator: "[email protected]"
source_credit: "(Pub. L. 87–128, title III, § 344, as added Pub. L. 92–419, title I, § 129, Aug. 30, 1972, 86 Stat. 666; amended Pub. L. 94–35, § 2, June 16, 1975, 89 Stat. 214; Pub. L. 104–127, title VI, § 661(i), Apr. 4, 1996, 110 Stat. 1107.)"
---


# § 1992. Loan limitations

section 1926(a)(1) of this title

No loan (other than one to a public body or nonprofit association (including Indian tribes on Federal and State reservations or other federally recognized Indian tribal groups) for community facilities or one of a type authorized by  prior to its amendment by the Rural Development Act of 1972) shall be made by the Secretary either for sale as an insured loan or otherwise under sections 1926(a)(1), 1932, or 1942(c) of this title unless the Secretary shall have determined that no other lender is willing to make such loan and assume 10 per centum of any loss sustained thereon. No contract guaranteeing any such loan by such other lender shall require the Secretary to guarantee more than 90 per centum of the principal and interest on such loan.

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**Source Credit**: (Pub. L. 87–128, title III, § 344, as added Pub. L. 92–419, title I, § 129, Aug. 30, 1972, 86 Stat. 666; amended Pub. L. 94–35, § 2, June 16, 1975, 89 Stat. 214; Pub. L. 104–127, title VI, § 661(i), Apr. 4, 1996, 110 Stat. 1107.)

## Editorial Notes

### References in Text

For statutory changes to  by the Rural Development Act of 1972, referred to in text, see 1972 Amendment note for , set out under . For complete classification of Rural Development Act of 1972 to the Code, see Short Title of 1972 Amendment note set out under  and Tables.

### Amendments

1996— substituted “1926(a)(1), 1932, or 1942(c) of this title” for “1924(b), 1926(a)(1), 1932, 1942(b), or 1942(c) of this title”.

1975— substituted “guaranteed more than 90 per centum of the principal and interest on such loan” for “participate in more than 90 per centum of any loss sustained thereon”.