7 U.S.C. § 1982 | Relief for mobilized military reservists from certain agricultural loan obligations

(a)

Definition of mobilized military reservist

In this section, the term “mobilized military reservist” means an individual who—

(1)

is on active duty under section 688, 12301(a), 12301(g), 12302, 12304, 12306, or 12406, or chapter 13 of title 10, or any other provision of law during a war or during a national emergency declared by the President or Congress, regardless of the location at which the active duty service is performed; or

(2)

section 101(d)(5) of title 10 section 502(f) of title 32 in the case of a member of the National Guard, is on full-time National Guard duty (as defined in ) under a call to active service authorized by the President or the Secretary of Defense for a period of more than 30 consecutive days under for purposes of responding to a national emergency declared by the President and supported by Federal funds.

(b)

Forgiveness of interest payments due while borrower is a mobilized military reservist

Any requirement that a borrower of a direct loan made under this chapter make any interest payment on the loan that would otherwise be required to be made while the borrower is a mobilized military reservist is rescinded.

(c)

Deferral of principal payments due while or after borrower is a mobilized military reservist

The due date of any payment of principal on a direct loan made to a borrower under this chapter that would otherwise be required to be made while or after the borrower is a mobilized military reservist is deferred for a period equal in length to the period for which the borrower is a mobilized military reservist.

(d)

Nonaccrual of interest

Interest on a direct loan made to a borrower described in this section shall not accrue during the period the borrower is a mobilized military reservist.

(e)

Borrower not considered to be delinquent or receiving debt forgiveness

section 2008h of this titleNotwithstanding or any other provision of this chapter, a borrower who receives assistance under this section shall not, as a result of the assistance, be considered to be delinquent or receiving debt forgiveness for purposes of receiving a direct or guaranteed loan under this chapter.

Pub. L. 87–128, title III, § 332 Pub. L. 108–375, div. A, title VI, § 664Oct. 28, 2004118 Stat. 1974 Pub. L. 115–232, div. A, title XII, § 1204(a)(2)Aug. 13, 2018132 Stat. 2017(, as added , , ; amended , , .)

Editorial Notes

References in Text

Pub. L. 87–128Aug. 8, 196175 Stat. 307 section 1921 of this titleThis chapter, referred to in subsecs. (b), (c), and (e), was in the original “this title”, meaning title III of , , , known as the Consolidated Farm and Rural Development Act. For complete classification of title III to the Code, see Short Title note set out under and Tables.

Prior Provisions

Pub. L. 87–128, title III, § 332Aug. 8, 196175 Stat. 314 Pub. L. 99–198, title XIII, § 1311Dec. 23, 198599 Stat. 1524 Pub. L. 100–233, title VI, § 607Jan. 6, 1988101 Stat. 1667 Pub. L. 101–624, title XVIII, § 1809Nov. 28, 1990104 Stat. 3820 Pub. L. 102–554, § 11Oct. 28, 1992106 Stat. 4151 Pub. L. 103–354, title II, § 227(b)(1)Oct. 13, 1994108 Stat. 3218A prior section 1982, , , ; , , ; , , ; , , ; , , , related to county committees, prior to repeal by , , .

Amendments

Pub. L. 115–2322018—Subsec. (a)(1). substituted “chapter 13” for “chapter 15”.