25 USC 1494: Evidence of eligibility of loan for and amount of guaranty or insurance; defenses and partial defenses against original lender
Text contains those laws in effect on November 20, 2024
From Title 25-INDIANSCHAPTER 17-FINANCING ECONOMIC DEVELOPMENT OF INDIANS AND INDIAN ORGANIZATIONSSUBCHAPTER II-LOAN GUARANTY AND INSURANCE
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§1494. Evidence of eligibility of loan for and amount of guaranty or insurance; defenses and partial defenses against original lender
Any evidence of guaranty or insurance issued by the Secretary shall be conclusive evidence of the eligibility of the loan for guaranty or insurance under the provisions of this chapter and the amount of such guaranty or insurance: Provided, That nothing in this section shall preclude the Secretary from establishing, as against the original lender, defenses based on fraud or material misrepresentation or bar him from establishing, by regulations in force at the date of such issuance or disbursement, whichever is the earlier, partial defenses to the amount payable on the guaranty or insurance.
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