§ 1465. Modification of amount of loan and document securing loan in collection of loan or in best interests of the United States

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. 1974

   Indian Financing Act of 1974

   Pub. L. 93–262 title I § 105 · [88 Stat. 77]

   Enacted · 25 U.S.C. § 1465

   Pub. L. 93–262, title I, § 105, Apr. 12, 1974, 88 Stat. 78

   Source evidence

   Code source credit
   Pub. L. 93–262, title I, § 105, Apr. 12, 1974, 88 Stat. 78

   Enacted provision · exact public law section
   Sec. 105. The Secretary may cancel, adjust, compromise., or reduce the amount of any loan or any portion thereof heretofore or hereafter made from the revolving loan fund established by this title and its predecessor constituent funds which he determines to be uncollectable in whole or in part, or which is collectable only at an unreasonable cost, or when such action would, in his judgment, be in the best interests of the United States: Provided, That proceedings pursuant to this sentence shall be effective only after following the procedure prescribed by the Act of July 1, 1932 (47 Stat. 564,25 U.S.C. 386a). He may also adjust, compromise, subordinate, or modify the terms of any mortgage, lease, assignment, contract, agreement, or other document taken to secure such loans.

2. 1984

   Indian Financing Act Amendments of 1984

   Pub. L. 98–449 § 3 · 98 Stat. 1725

   Struck · 25 U.S.C. § 1465

   Pub. L. 98–449 struck out proviso at end of first sentence which provided that proceedings pursuant to this section would be effective only after following the procedure set out in section 386a of this title

   Source evidence

   Code amendment note
   Pub. L. 98–449 struck out proviso at end of first sentence which provided that proceedings pursuant to this section would be effective only after following the procedure set out in section 386a of this title.

   Enacted provision · exact public law section
   Sec. 3. Section 105 of the Indian Financing Act of 1974 (25 U.S.C. 1465) is amended by striking out “United States: Provided, That proceedings pursuant to this sentence shall be effective only after following the procedure prescribed by the Act of July 1, 1932 (47 Stat. 564; 25 U.S.C. 386a)” and inserting in lieu thereof “United States.”

2 of 2 references resolved to an enrolled provision