§ 772.2 Abbreviations and Definitions.
Primary source
Verbatim text below is from the Electronic Code of Federal Regulations (eCFR), a public-domain U.S. government work. Always verify the current version with the eCFR before relying on it for any legal matter.
Full Text
Abbreviations.(a)
Definitions.(b)
Association-Type Minor Program loans (AMP): Loans to Grazing Associations and Irrigation and Drainage Associations.
Entity: Cooperative, corporation, partnership, joint operation, trust, or limited liability company.
Graduation: The requirement contained in loan documents that borrowers pay their FSA loan in full with funds received from a commercial lending source as a result of improvement in their financial condition.
Individual-type Minor Program loans (IMP): Non-Farm Enterprise or Recreation loans to individuals.
Member: Any individual who has an ownership interest in the entity which has received the Minor Program loan.
Minor Program: Non-Farm Enterprise, Individual Recreation, Grazing Association, or Irrigation and Drainage loan programs administered or to be administered by FSA
Review official: An agency employee, contractor or designee who is authorized to conduct a compliance review of a Minor Program borrower under this part.
AMP Association-Type Minor Program loan; CFR Code of Federal Regulations; FO Farm Ownership Loan; FSA Farm Service Agency; IMP Individual-Type Minor Program loan; OL Operating Loan; USDA United States Department of Agriculture.
This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.