GroundRules
7 CFR 1735.60: Specific provisions.
Where this section sits in the code
- Title 7—Agriculture
- Subtitle B—Regulations of the Department of Agriculture
- CHAPTER XVII—RURAL UTILITIES SERVICE, DEPARTMENT OF AGRICULTURE
- PART 1735—GENERAL POLICIES, TYPES OF LOANS, LOAN REQUIREMENTS—TELECOMMUNICATIONS PROGRAM
- Subpart F—Mortgage Controls on Acquisitions and Mergers
(a) The standard form of RUS mortgage contains certain provisions concerning mergers and acquisitions:
(1) Article II, section 4(a) requires the borrower to obtain the written approval of the majority noteholders before taking any action to reorganize, or to consolidate with or merge into any other corporation.
(2) Article II, section 4(b), if made applicable, provides certain exceptions to the requirements of section 4(a).
(b) Similar provisions are contained in other forms of documents executed by borrowers that have not entered into the standard form of mortgage.
(c) Mortgages and loan contracts may contain other provisions concerning mergers and acquisitions.
Collected 2026-08-27T02:24:01Z. Source file · JSON