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Finance and Credit

Overview

Farmers must often borrow large amounts of capital and incur sizeable debts in order to operate and maintain their farming operations. Thus, the complex network of state and federal statutes, regulations, case law, and lending institutions that comprise the area of farm credit is of increasing significance to those involved in all aspects agricultural production. Read the full overview.

Note: Recently added resources are posted at the top of the applicable sections.

Major Statutes

Agricultural Credit, 7 U.S.C. §§ 1921-2009aa-13

Farm Credit System, 12 U.S.C. §§ 2001-2279cc

Consolidated Farm and Rural Development Act, 7 U.S.C. §§ 1921-2009dd-7

State Agricultural Loan Mediation Programs, 7 U.S.C. §§ 5101-5106

Adjustment and Cancellation of Farm Loans, 12 U.S.C. §§ 1150-1150b

Agricultural Marketing Act, 12 U.S.C. §§ 1141-1141j

Regional Agricultural Credit Corporations, 12 U.S.C. §§ 1148-1148d

Local Agriculture-Credit Corporations, Livestock-Loan Companies and Like Organizations,
12 U.S.C. §§ 1401-1404

Equal Credit Opportunity Act, 15 U.S.C. §§ 1691-1691f

Uniform Commercial Code

States' Alternative Dispute Resolution (ADR) Statutes

Updated Compilation of States' Statutory Agricultural Lien Charts

Regulations

National Appeals Division, 7 C.F.R. pt. 11

Guaranteed Farm Loans, 7 C.F.R. pt. 762

Emergency Loans, 7 C.F.R. pt. 764

Assignment of Payments, 7 C.F.R. pt. 1404

Servicing and Collections, 7 C.F.R. pt. 1951

Property Management, 7 C.F.R. pt. 1955

Debt Settlement, 7 C.F.R. pt. 1956

Personal Property, 7 C.F.R. pt. 1962

Farm Credit Administration, 12 C.F.R. pts. 600-655

Farm Credit System Insurance Corporation, 12 C.F.R. pts. 1400-1403; 1408; 1410-1411

Federal Register Rules Open for Comment

Center published Federal Register Digest

Case Law

Case Law Index for Finance and Credit

Center Research Publications

Updated Statutory Agricultural Lien Charts (Springsteen & Fiser, 2009)

U.C.C. Forms and Filing Information (Springsteen, 2009)

2005 Commercial Law Update (Meyer, 2006)

The Farmer's Legal Guide to Producer Marketing Associations (O'Brien, Hamilton & Luedeman, 2006)

Rabobank Offer to Purchase FCS of America (O'Brien, 2004)

Chapter 12 Bankruptcy: On Again, Off Again (Schneider, 2003)

Husband and Wife Farmers in Ag Bankruptcy: The "Tools of the Trade" Exemption (Pittman, 2002)

Statutory Ag Liens Under Revised Article 9 (Schneider, 2002)

Congressional Research Service Reports

CRS Subject(s):
Finance and Credit
Federal Loan Programs

Agricultural Law Bibliography

Introduction | Keyword Search | Browse Categories

Legal publications on Finance & Credit:
Bankruptcy
Federal Loan Programs (Farmers Home Administration/Farm Service Agency)
Finance and Credit
Land Sales/Real Estate Finance, Mortgages/Foreclosures
Leases, Landlord-Tenant
Uniform Commercial Code

Reference Resources

Farm Credit System
Farm Credit Services
Farm Credit Council
Federal Farm Credit Banks Funding Corporation

Farm Service Agency (FSA)
Farm Service Agency Farm Loans Program Homepage

FSA Direct Loan Program Information Sheet

Guaranteed Loans
FSA Guaranteed Loan Program Information Sheet
Lender Types
Fact Sheet: Socially Disadvantaged Farmers and Ranchers

Beginning Farmer and Rancher Loans
Fact Sheet: Loans for Beginning Farmers and Ranchers

FSA Handbook for Farm Loan Programs
General Program Administration
Guaranteed Loan Making and Servicing
Direct Loanmaking
Regular Direct Loan Servicing
Direct Loan Servicing - Special and Inventory Property Management
Special Programs
Farm Loan Analysis Group
Sign Up for Notices

Economic Research Service (ERS)
Briefing Room: Risk Management
Rural Financial Market Performance (1997)
Agricultural Income and Finance Situation and Outlook
Publication: The Debt Finance Landscape for U.S. Farming and Farm Businesses (Harris et al., 2009)
Publication: The 2008/2009 World Economic Crisis: What It Means for U.S. Agriculture (Shane et al., 2009)
Credit in Rural America (1997)
Issues in Agricultural and Rural Finance (1998)

Congressional Resources

Reports on Ag Credit (General Accounting Office, GAO)

Reports on Farm Finance (GAO)

Other Federal Resources

Farm Credit Administration

Federal Reserve AgLetter

Farmer Mac (Federal Agricultural Mortgage Corporation)

Farm Credit Administration Office of General Counsel Legal Opinion Summaries

Office of Civil Rights

Publications

Farmer's Guide to Disaster Assistance (FLAG, 2008)

Bankruptcy Reform: Changes to Chapter 12 - Family Farmer Reorganization (FLAG, 2005)

Making the Most of Your Milk Check: What Dairy Farmers Need to know About Assignments
(FLAG, 2005)

Managing Debt to Prepare for Farm Transfer (FLAG, 2006)

Additional Resources

Finance & Credit Posts (United States Agricultural & Food Law and Policy Blog)

Farmdoc - Finance (U. IL - Urbana)

American Bankers Association Center for Agricultural and Rural Banking

Tip Sheet: Surviving Tough Financial Times on the Farm (ABA Center for Agricultral and Rural Banking)

ABA's Annual Farm Bank Performance Review 2010 (American Bankers Association)

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