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FEDERAL

VOLUME 11

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I SCRIPTA I
I MANET I

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REGISTER
1934 f c t/NlTtO

NUMBER 100

Washington, Wednesday, May 22, 1946
Regulations TITLE 6AGRICULTURAL CREDIT
Chapter IFarm Credit Administration P art 10F ederal L and B a n k s , G enerally SECURITY STANDARDS

Section 10.10 of P art 10, Chapter I, Title 6, Code of Federal Regulations is hereby amended, and a new 10.10-50
is hereby added, to read as follows:
10.10 Security standards for Fed eral land bank loans. To be acceptable security for a bank loan, a property must meet each of the following minimum standards:
a It must be capable of producing, under typical operation, sufficient nor mal agricultural earnings to pay farm operating expenses, including taxes and other fixed charges, maintain the prop erty, and meet installments on a bank loan that would be proper to a typical owner of the property.
b It must be sufficiently desirable to be readily salable or rentable under nor mal agricultural conditions.
c It must be sufficiently durable to maintain satisfactory production during the loan term specified.
d It must have sufficient stability of value to assure that, on a loan that would be proper to a typical owner of the property, the bank could recover its investment if unforeseen difficulties should result in acquirement of the prop erty.
While the normal agricultural earn ings must be sufficient to meet the ex penses specified in paragraph a, it is not necessary that they also be adequate in all cases to meet family living ex penses. When it is necessary to rely on income other than farm earnings for family living expenses, such supple mental income must be available to the applicant and to a typical owner from dependable sources and in an amount sufficient to support customary living standards.
Sec. 6, 47 Stat. 14; 12 Fifth, 39 Stat.
jjf . as amended; 12 U.S.O. 665, 771
Fifth, as amended 10.10-50 Security standards for first mortgage Commissioner loans. To be
acceptable security for a first mortgage Commissioner loan based on normal agricultural value, a property may be somewhat lacking with respect to the minimum standards for bank loans or be subject to some uncertainty as to future conditions, provided there is reasonable assurance that a loan in a proper amount would prove to be satisfactory. The same requirements are applicable to se curity for a first mortgage Commissioner loan based on prudent investment value except that, as a minimum, the normal agricultural earnings of the property need be sufficient only to constitute a material contribution to the income or living of the operator.
Sec. 32b, 43 Stat. 48, as amended; 12
U.S.C. 1016 b, as amended se a l

C arl C o l v in ,
Acting Land Bank Comrrtissioner.
P. R. Doc. 46-8510; P iled , May 21, 1946;
11:04 a. m .

CONTENTS
REGULATIONS AND NOTICES
D epartm ent.
See Page also Farm Credit Administra tion and Federal Crop Insur ance Corporation.
Naval Stores Conservation Pro gram; administration____ 5538

A g r ic u l t u r e
A l ie n P r o perty C u s t o d ia n :

Vesting orders, etc.:
Hartkopf, Ida Adele MargritHeinen, Alfred------------ ;----Hessler, Emil_____________
Hirdes, Gebrueder------ -----Hufnagel, George-------------Iwamoto, Sadaichi, and M.
Iwamoto_____________
Koenigsdorf, Max-------------Krause, F. W., &C o_
Lochner, Emma_______
Matsushita, Sakae______
Niedersaechsische L a n d e s bank - Girozentrale____

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C iv il ia n P ro ductio n A d m in ist r a
t io n :

TITLE 7AGRICULTURE
Chapter IVProduction and Marketing Administration Crop Insurance A m dt. 2
P art
414 W h e a t
C ro p I n s u r a n c e R e g u
l a t io n s fo r I n s u r a n c e C o nt ract s C o v
e r in g t h e 1945, 1946, and 1947 C rop Y ears a m o u n t o f l o ss
Subparagraphs 3, 4 and 6 of par agraph a of 414.15 of the Wheat Crop Insurance Regulations for Insurance Contracts Covering the 1945, 1946, and 1947 Crop Years 10 F.R. 1585, 1851, 10343 are hereby amended to read as follows:
414.15 Amount of loss, a
3 The appraised production for any acreage of the wheat crop which is re leased by the Corporation before harvest of wheat has started in the area and seeded to a substitute crop, which ap praised production shall not be less than the product of i such acreage and ii 50 percent of the product of the average yield and the insured percent age rounded after each computation in accordance with 414.43 ;
C on tin u ed o n p. 5531

Priorities system operation, CC
ratings for rental businesses and repair shops PR 28, Dir. 14________________ 5539
F arm C redit A d m in is t r a t io n :

Federal Land Banks, security standards ______________

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F ederal C o m m u n ic a t io n s C o m m is
s io n :

Amateur radio, stations and op erators; frequency bands Hearings, etc.:
Anthony, Earl C., Inc______
Baltimore Broadcasting Corp.
WCBM_.____________
California-Nevada Broadcast ing Co----------------------Columbia Broadcasting Sys tem, Inc. et al________
Eagle-Gazette Co__________
England, Monroe B., et al__
KHTN, Inc_______________
Liberty Broadcasting Corp.
et al________________
Marshall Broadcasting Co__
. Navarro Broadcasting Asso ciation KAND and Alto, Inc________
Noe, James A_____________
North Jersey Radio, Inc____
N u e c e s Broadcasting Co.
K E Y S_____________
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