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FEDERAL
VOLUME 20

REGISTER
1934

4 ajited %

NUMBER 10

Washington, Friday, January 14, 1955
TITLE 6 AGRICULTURAL CREDIT
Chapter HI Farmers Home Adminis tration, Department of Agriculture Subchapter E Account Servicing
FHA Instruction 451.4

P art 361 R outine S ubpart B S ervicing F arm O wnership and F arm H ousing L oans P art 366 P ayment - i n -F ull Subpart A D irect F arm O w nership F arm H ousing A ccounts
and
PAID-IN-FULL DIRECT FARM OWNERSHIP AND
FARM HOUSING ACCOUNTS

In Subchapter E of Title 6, Code of Federal Regulations, 361.25 17 F. R.
2107,18 F. R. 2471 is hereby revoked, a new Part 366 Payment-in-Full, is added, and a new Subpart A Direct Farm Ownership and Farm Housing Ac counts is added in that new Part 366
as follows:
StTBPART A DIRECT FARM OWNERSHIP AND
FARM HOUSING ACCOUNTS

Sec.
366.1
366.2
366.3
366.4

General.
Authorization..
Determining balance to be collected.
Delivery of satisfactions, notes and other documents.
366.5 Property insurance.

A u th o r ity : 366.1 to 366.5 issued under sec. 41 i , 60 Stat. 1066, sec. 510 g , 63 Stat.
438; 7 U. S. C. 1015 i , 42 U. S. C. 1480 g .
Interpret or apply secs. 3 b 6 , 41 h , 60 Stat. 1074, 1066, sec. 510 d , 63 Stat. 437;
J w S. C. 1003 b 6 , 1015 h , 42 U. S. O.
1480 d .
SUBPART A DIRECT FARM OWNERSHIP AND
FARM HOUSING ACCOUNTS

366.1 General. Sections 366.1 to 366.5 set forth the authorizations, poli cies, and procedures for processing final Payments on direct Farm Ownership accounts and Farm Housing accounts which are paid in full at any time after loan closing, in every case where a loan has been closed, including those where the entire principal of the loan is re funded before any of it has been previ ously disbursed from the supervised bank account, the borrower will be required to pay interest from the date of the note to the date final payment is received by the County Supervisor.

366.2
Authorization.
a T h e CONTENTS
County Supervisor is authorized to ac cept final payment on a direct Farm Agricultural Marketing Service Ownership or Farm Housing account Proposed rule making:
except direct Farm Ownership accounts Milk handling:
repaid in less than five years by sale of Fort Smith, Ark_____________
the farm when profit making seems to be San Antonio, Tex___;_______ _
the only significant motive for the sale Shreveport, La______________
and to execute the necessary releases and Rules and regulations:
satisfactions in connection with the in Milk handling in Austin-Waco, debtedness. When a borrower who has Tex., area_________
not had his loan five years proposes to sell his farm and pay the Farm Owner Agricultural Research Service ship loan in full, and profit making seems Rules and regulations:
Household insecticides contain to be the only significant motiye for the ing chlordane; interpreta sale, the County Supervisor will advise tion with respect to labeling.
the State Director of the circumstances.
The State Director is authorized to ap Agriculture Department prove or disapprove the transaction and See Agricultural Marketing Serv will inform the County Supervisor of the ice;
Agricultural Research action to be taken.
Service ; Commodity Credit Cor b The State Director, with the as poration; Commodity Stabili sistance of the representative of the zation Service; Farmers Home Office of the Solicitor, will issue a State Administration; Rural Electrifi Instruction which will instruct County cation Administration.
Supervisors regarding the release or sat Commerce Department isfaction of Farm Ownership and Farm See Federal Maritime Board.
Housing mortgages when the loan is paid Commodity Credit Corporation in full.
Rules and regulations:
366.3 Determining "balance to be Flaxseed loan and purchase collected. a When a borrower has agreement program, 1954
indicated his desire to pay his direct crop; support rates_________
Farm Ownership or Farm Housing ac count in full, the County Supervisor will Commodity Stabilization Service prepare and forward to the Finance O f Rules and regulations:
Cotton; marketing quota refer fice Form FHA-995, Request for Certi enda for 1955 crop;
fied Statement of Account, in order to Extra long staple___________
obtain the unpaid balance of principal Upland------------------------ ---and interest on the borrowers account and the daily rate o f accrual o f interest. Customs Bureau b Upon receipt o f Form FHA-835,Notices:
Certified Statement of Account, from Wateh movements, prospective the Finance Office, the County Super tariff classification of certain.
visor will notify the borrower that he is Defense Minerals Exploration prepared to accept final payment.
366.4
Delivery of satisfactions, notes, and other documents. Usually, the County Supervisor will transmit the final payment to the Finance Office with a request for the return of the promissory note for delivery to the borrower; how ever, if circumstances require delivery of the note at the time final payment is received by the County Supervisor, he will request the Finance Office to forward the note along with the statement o f account on Form FHA-835.
Continued on p. 323

Pas 344
344
344
325

323

323

325
325

345

Administration
Rules and regulations:
Government aid in defense ex ploration projects; miscel laneous amendments____:____

337

Defense Mobilization Office Rules and regulations:
Watch Industry, Advisory Com mittee on; establishment____

336

Farmers Home Administration Rules and regulations:
Paid-in-full direct farm owner ship and farm housing ac counts_____________
321

321