7 CFR 1951.153 - Chattel security or note-only cases.

Regulations last checked for updates: Oct 18, 2024

Title 7 - Agriculture last revised: Oct 11, 2024

View all text of Subpart D [§ 1951.151 - § 1951.200]

§ 1951.153 - Chattel security or note-only cases.

(a) If a loan secured by both real estate and chattels is paid in full, the chattel security instrument will be satisfied or released in accordance with subpart A of part 1962 of this chapter.

(b) When a loan is evidenced by only a note and the note is paid in full, RD will deliver the note to the borrower in the manner prescribed in § 1951.155(c) of this subpart.

authority: 5 U.S.C. 301; 7 U.S.C 1932 note; 7 U.S.C. 1989; 31 U.S.C. 3716; 42 U.S.C. 1480.

cite as: 7 CFR 1951.153