Page:United States Statutes at Large Volume 105 Part 2.djvu/915

 PUBLIC LAW 102-237—DEC. 13, 1991 105 STAT. 1867 "(2) AFFECTED BY A DISASTER.— For purposes of paragraph (1), a borrower or applicant was affected by a disaster if the Secretary finds that the borrower or applicant's farming operations have been substantially affected by a natural disaster in the United States or by a major disaster or emergency designated by the President under the Disaster Relief and Emergency Assistance Act (42 U.S.C. 5121 et seq.), including a borrower or applicant who has a qualifying loss but is not located in a designated or declared disaster area. "(3) APPLIGATION OF SUBSECTION.—Paragraph (1) shall apply to all actions taken by the Secretary to carry out this title (except for loans under subtitle C) that involve the yields of a farm of a borrower or applicant, including making loans and loan guarantees, servicing loans, and making credit sales.". (2) REGULATIONS. — (A) INTERIM REGULATIONS.—Notwithstanding section 553 of title 5, United States Code, as soon as practicable after the date of enactment of this Act and without a requirement for prior public notice and comment, the Secretary of Agriculture shall issue interim regulations that provide for the implementation of the amendment made by paragraph (1) beginning in crop year 1992. (B) FINAL REGULATIONS. — The Secretary of Agriculture shall provide for public notice and comment before the issuance of final regulations to implement the amendment made by paragraph (1). (3) EFFECTIVE DATE. — (A) IN GENERAL.— Except as provided in subparagraph (B), the amendment made by paragraph (1) shall become effective on the date of publication of the interim regulations issued pursuant to paragraph (2)(A). (B) EXCEPTION.—The amendment made by paragraph (1) shall apply to each primary loan servicing application submitted on or after the date of enactment of this Act. (e) AMENDMENTS TO SECTION 333(2)(A).— Section 333(2)(A) of the Consolidated Farm and Rural Development Act (7 U.S.C. 1983(2)(A)) is amended by redesignating clauses (1), (2), and (3), as clauses (i),(ii), and (iii), respectively. (f) AMENDMENTS TO SECTION 335(e)(l).— Section 335(e)(l) of such Act (7 U.S.C. 1985(e)(l)) is amended— (1) in subparagraph (A)(i), by striking "the borrower" and all that follows through "the 'borrower-owner')" and inserting "borrower-owner (as defined in subparagraph (F)"; and (2) by adding at the end the following new subparagraph: "(F) As used in this paragraph, the term 'borrower-owner' means— "(i) a borrower from whom the Secretary acquired real farm or ranch property (including the principal residence of the borrower) used to secure any loan made to the borrower under this title; or "(ii) in any case in which an owner of property pledged the property to secure the loan and the owner is different than the borrower, the owner.". (g) AMENDMENTS TO SECTION 352.— Section 352 of such Act (7 U.S.C. 2000) is amended— (1) in subsection (a)— 7 USC 1981e note. 7 USC 1981e note.

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