In the case of a loan guaranteed by the Secretary under subchapter I or II to a socially disadvantaged farmer or rancher (as defined in section 2003(e) of this title) or a qualified beginning farmer or rancher, the Secretary may provide for a standard guarantee plan, which shall cover an amount equal to 95 percent of the outstanding principal of the loan.

(Pub. L. 87–128, title III, § 367, as added Pub. L. 115–334, title V, § 5306, Dec. 20, 2018, 132 Stat. 4673.)

Editorial Notes

Prior Provisions

A prior section 2008b, Pub. L. 87–128, title III, § 367, as added Pub. L. 101–624, title XXIII, § 2317, Nov. 28, 1990, 104 Stat. 4008; amended Pub. L. 102–237, title VII, § 701(g), Dec. 13, 1991, 105 Stat. 1879, related to limited transfer authority of loan amounts, prior to repeal by Pub. L. 104–127, title VII, § 755, Apr. 4, 1996, 110 Stat. 1131.