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U.S. Code as of:
01/19/04
Section 488. Agricultural loans to acquire land within reservations
The Secretary of Agriculture is authorized to make loans from the
Farmers Home Administration Direct Loan Account created by section
1988(c) (!1) of title 7, and to make and insure loans as provided
in sections 1928 (!1) and 1929 of title 7, to any Indian tribe
recognized by the Secretary of the Interior or tribal corporation
established pursuant to the Indian Reorganization Act (25 U.S.C.
477), which does not have adequate uncommitted funds, to acquire
lands or interests therein within the tribe's reservation as
determined by the Secretary of the Interior, or within a community
in Alaska incorporated by the Secretary pursuant to the Indian
Reorganization Act [25 U.S.C. 461 et seq.], for use of the tribe or
the corporation or the members of either. Such loans shall be
limited to such Indian tribes or tribal corporations as have
reasonable prospects of success in their proposed operations and as
are unable to obtain sufficient credit elsewhere at reasonable
rates and terms to finance the purposes authorized in sections 488
to 494 of this title.
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