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72 FR 63298, Nov. 8, 2007, unless otherwise noted.
75 FR 54015, Sept. 3, 2010, unless otherwise noted.
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(a) The applicant:
(1) Must comply with general eligibility requirements specified in § 764.101 except paragraphs (e) and (k) of that section;
(2) And anyone who will sign the promissory note, must not have received debt forgiveness from the Agency on any direct or guaranteed loan; and
(3) Must be the owner-operator or tenant-operator of a farm and be engaged in agricultural production after the time of loan is closed. In the case of an entity:
(i) The entity is controlled by farmers engaged primarily and directly in farming in the United States;
(ii) The entity must be authorized to operate a farm in the State in which the farm is located.
(b) [Reserved]