C.F.R. » Title 7 » CHAPTER VII—FARM SERVICE AGENCY, DEPARTMENT OF AGRICULTURE › SUBCHAPTER D—SPECIAL PROGRAMS › PART 770—INDIAN TRIBAL LAND ACQUISITION LOANS

7 C.F.R. § 770.3

Eligibility requirements

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An applicant must:

(a) Submit a completed Agency application form;

(b) Except for refinancing activities authorized in § 770.4(c), obtain an option or other acceptable purchase agreement for land to be purchased with loan funds;

(c) Be a Native American tribe or a tribal corporation of a Native American tribe without adequate uncommitted funds, based on Generally Accepted Accounting Principles, or another financial accounting method acceptable to Secretary of Interior to acquire lands or interests therein within the Native American tribe's reservation for the use of the Native American tribe or tribal corporation or the members of either;

(d) Be unable to obtain sufficient credit elsewhere at reasonable rates and terms for purposes established in § 770.4;

(e) Demonstrate reasonable prospects of success in the proposed operation of the land to be purchased with funds provided under this part by providing:

(1) A feasibility plan for the use of the Native American tribe's land and other enterprises and funds from any other source from which payment will be made;

(2) A satisfactory management and repayment plan; and

(3) A satisfactory record for paying obligations.

(f) Unless waived by the FSA Administrator, not have any outstanding debt with any Federal Agency (other than debt under the Internal Revenue Code of 1986) which is in a delinquent status.

(g) Not be subject to a judgment lien against the tribe's property arising out of a debt to the United States.

(h) Have not received a write-down as provided in § 770.10(e) within the preceding 5 years.

[66 FR 1567, Jan. 9, 2001, as amended at 70 FR 7167, Feb. 11, 2005]
Notes of Decisions
Cited in 4 cases, 1984–1988 · leading case: Gibson v. United States, 11 Cl. Ct. 6 (Ct. Cl. 1986).
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Gibson v. United States, 11 Cl. Ct. 6 (Ct. Cl. 1986). · cites it 2× “7 C.F.R. § 770.3 (a)(l)(1983). The designated percentage for corn was 80 percent.”
In Re Scotty Lee Schneider & Anna Lucille Schneider, Debtors. Scotty Lee Schneider & Anna Lucille Schneider v. Edward J. Nazar, Tr., 864 F.2d 683 (10th Cir. 1988). “7 C.F.R. § 770.3 (1985). In the context of this case, we think the government undertook these obligations with respect to the operator and the producer at the time the government signed the contract approving participation.”
Sandage Real Est., Inc. v. Liebe (In Re Liebe), 41 B.R. 965 (Bankr. D. Iowa 1984). “” See also 7 CFR § 770.3 (3). In this case, Debtors’ PIK bushels became available on October 15, approximately a month and a half after forfeiture.”
Westcott v. United States Dep't of Agric., 611 F. Supp. 351 (D. Neb. 1984). “The Commodity Credit Corporation Charter Act provides that the CCC: “May sue and be sued, but no attachment, injunction, garnishment, or other similar process, mesne or final, shall be issued against the Corporation or its property .”
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