§ 2201. Notice of action on application

Legislative history

Reconstructed from this section’s Code source credit and amendment notes, resolved against the local Statutes at Large. Editorial notes are evidence, not the law that made the change.

1. 1971

   Farm Credit Act of 1971

   Pub. L. 92–181 title IV § 4 · 85 Stat. 583

   Enacted · 12 U.S.C. § 2201

   Pub. L. 92–181, title IV, § 4.13B, formerly § 4.13, Dec. 10, 1971, 85 Stat. 613, renumbered § 4.13B and amended Pub. L. 99–205, title III, §§ 301(a), 302, Dec. 23, 1985, 99 Stat. 1707, 1708

   Source evidence

   Code source credit
   Pub. L. 92–181, title IV, § 4.13B, formerly § 4.13, Dec. 10, 1971, 85 Stat. 613, renumbered § 4.13B and amended Pub. L. 99–205, title III, §§ 301(a), 302, Dec. 23, 1985, 99 Stat. 1707, 1708

   Enacted provision · exact public law section
   (4) Sue and be sued.

2. 1985

   Farm Credit Amendments Act of 1985

   Pub. L. 99–205 § 302 · 99 Stat. 1678

   Changed · 12 U.S.C. § 2201

   Pub. L. 99–205, § 302, provided for a “written” notice and for the applicant’s right to review under section 2202 of this title

   Source evidence

   Code amendment note
   Pub. L. 99–205, § 302, provided for a “written” notice and for the applicant’s right to review under section 2202 of this title.

   Enacted provision · exact public law section
   Sec. 302. notice on applications Section 4.13B of the Farm Credit Act of 1971, as so redesignated by section 301(a), is amended by (1) inserting “written” before “notice” and (2) inserting, before the period at the end thereof, the following: “, and of the applicant’s right to review under Infra. section 4.14”

   Effective date note
   Amendment by Pub. L. 99–205 effective thirty days after Dec. 23, 1985, see section 401 of Pub. L. 99–205, set out as a note under section 2001 of this title.

3. 1988

   Agricultural Credit Act of 1987

   Pub. L. 100–233 title I § 105 · 101 Stat. 1568

   Amended · 12 U.S.C. § 2201

   Pub. L. 100–233 amended section generally. Prior to amendment, section read as follows: “Every applicant for a loan from an institution of the System shall be entitled to prompt written notice of action on his application, and, if the loan applied for is reduced or denied, the reason for such action, and of the applicant’s right to review under section 2202 of this title.”

   Source evidence

   Code amendment note
   Pub. L. 100–233 amended section generally. Prior to amendment, section read as follows: “Every applicant for a loan from an institution of the System shall be entitled to prompt written notice of action on his application, and, if the loan applied for is reduced or denied, the reason for such action, and of the applicant’s right to review under section 2202 of this title.”

   Enacted provision · exact public law section
   SEC. 105. NOTICE OF ACTION ON APPLICATION FOR LOANS OR RESTRUCTURING. Section 4.13B (12 U.S.C. 2201) is amended to read as follows: “SEC. 4.13B. NOTICE OF ACTION ON APPLICATION. “(a) Loan Applications.— Each qualified lender to which a person has applied for a loan shall provide the person with prompt written notice of— “(1) the action on the application; “(2) if the loan applied for is reduced or denied, the reasons for such action; and “(3) the applicant’s right to review under section 4.14. “(b) Distressed Loans.— Each qualified lender that has a distressed loan outstanding that is subject to restructuring requirements under this Act shall provide, in accordance with regulations prescribed by the Farm Credit Administration, the borrower with prompt written notice of— “(1) any action taken with respect to restructuring the loan under section 4.14A; “(2) if restructuring is denied, the reasons for such action; and “(3) the borrower’s right to review under section 4.14.”.

3 of 3 references resolved to an enrolled provision