Volume 80
Public Law 89–586
To amend the Consolidated Farmers Home Administration Act of 1061 to authorize loans by the Secretary of Agriculture on leasehold interests in Hawaii, and for other purposes.
Approved September 19, 1966
Statutory text
AN ACT
To amend the Consolidated Farmers Home Administration Act of 1061 to authorize loans by the Secretary of Agriculture on leasehold interests in Hawaii, and for other purposes.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
That only for the
Hawaii.
Farm real estate loans on leased lands.
period of time commencing with the date of enactment of this Act and ending on June 30, 1968, section 343 of the Consolidated Farmers Home Administration Act of 1961, as amended (7 U.S.C. 1991), is amended by striking the word “and” before the figure “(2)” in said section and by striking the period at the end thereof and inserting a comma and the following: “and (3) the term ‘owner-operator’ shall in the State of Hawaii include the lessee-operator of real property in any case in which the Secretary determines that the land cannot be acquired in fee simple by the applicant, adequate security is provided for the loan, and there is a reasonable probability of accomplishing the objectives and repayment of the loan: Provided, That item (3) shall be applicable to lessee-operators of Hawaiian Homes Commission lands only when and to the extent that it is possible for such lessee-operators to meet the conditions therein set out.”
Approved September 19, 1966.