§ 1690. Loans from Trust Territory of the Pacific Islands Economic Loan Fund; restrictions; guarantees

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. 1972

   Pub. L. 92–257 § 3 · 86 Stat. 87

   Enacted · 48 U.S.C. § 1690

   (Pub. L. 92–257, § 3, Mar. 21, 1972, 86 Stat. 87.)

   Source evidence

   Code source credit
   (Pub. L. 92–257, § 3, Mar. 21, 1972, 86 Stat. 87.)

   Enacted provision · exact public law section
   Sec. 3. No loan or loan guarantee shall be made under this title to Restrictions. any applicant who does not satisfy the territorial administering agency that financing is otherwise unavailable on reasonable terms and conditions. No loan or loan guarantee shall exceed (1) the amount which can reasonably be expected to be repaid, (2) the minimum amount necessary to accomplish the purposes of this title, or 25 per centum of the funds appropriated pursuant to section 1. No loan guarantee shall guarantee more than 90 per centum of the outstanding amount of any loan, and the reserves maintained to guarantee the loan shall not be less than 25 per centum of the guarantee.

1 of 1 references resolved to an enrolled provision