Page:United States Statutes at Large Volume 60 Part 1.djvu/1100

 60 STAT.] 79TH CONG. , 2D SESS.-CH. 964-AUG. 14, 1946 borrowers under this title in making the improvements needed to adjust their farming operations to changing conditions. "(b) (1) Except with respect to veterans qualified under subsection (b) (2) of this section, only farm tenants, farm laborers, sharecrop- pers, and other individuals (including owners of inadequate or under- improved farm units) who obtain, or who recently obtained, the major portion of their income from farming operations, shall be eligible to receive the benefits of this title. In making available the benefits of this title, the Secretary shall give preference to persons who are married, or who have dependent families, and, wherever practicable, to persons who are able to make an initial down payment, or who are owners of livestock and farm implements necessary successfully to carry on farming operations. No person shall be eligible who is not a citizen of the United States. "(2) Any veteran (defined herein as a person who served in the land or naval forces of the United States during any war between the United States and any other nation, and who shall have been discharged or released therefrom under conditions other than dis- honorable) who intends to engage in farming as a principal occupa- tion, and who meets the requirements of rules and regulations pre- scribed by the Secretary as to industry, experience, character, and other assurances of success as farmers, shall be eligible for the benefits of this title and their applications shall be entitled to preference over those of non-veterans. "(c) No loan shall be made, or mortgage insured, for the acquisition, improvement, or enlargement of any farm unless it is of such size and type as the Secretary determines to be sufficient to constitute an efficient family-type farm-management unit and to enable a diligent farm family to carry on successful farming of a type which the Secre- tary deems can be carried on successfully in the locality in which the farm is situated: Provided, That loans may be made to veterans, or mortgages insured for veterans, as defined in section 1 (b) (2) hereof, who have pensionable disabilities, to enable such veterans to acquire, enlarge, repair, or improve farm units of sufficient size to meet the farming capabilities of such veterans and afford them income which, together with their pensions, will enable them to meet living and operating expenses and the amounts due on their loans. "FUNCTIONS OF COUNTY OOMMITTEES 1073 Persons eligible for benefits. Veterans. Size and type of farm. Loans to veterans with pensionable dis- abilities. "SEc. 2. (a) The county committees established under section 42 At, p. 068. shall- "(1) examine applications (filed with the chairman of the county committee, or with such other person as the Secretary may designate) of persons desiring to obtain the assistance of the Secretary in financ- ing the acquisition of farms or farming operations in the county as provided in this Act; and "(2) examine and appraise farms in the county with respect to which applications are made. "(b) If the committee finds that an applicant is eligible to receive the benefits of this Act, that, in the opinion of the committee, by rea- son of his character, ability, industry, and experience, he will success- fully carry out undertakings required of him under a loan which may be made or insured under this Act, that credit sufficient in amount to finance the actual needs of the applicant, specified in the application, is not available to him at the rates (but not exceeding the rate of 5 per centum per annum) and terms prevailing in the community in or near which the applicant resides for loans of similar size and character from commercial banks, cooperative lending agencies, or from any 80634--47-PT. I-- --68 Examination of ap- plications. Appraisal of farms. Certification

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