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VOLUME 14

NUMBER 81

Washington, Thursday, Aprii 28, 7949

TITLE 6 AGRICULTURAL CREDIT
Chapter III Farmers Home Adminis tration, Department of Agriculture Subchapter E Account Servicing
P art 372 S ecurity S ervicing and L iq u i
dations; F arm O wnership L oans SUBPART A GENERAL SECURITY
SERVICING

Sections 372.2 and 372.3 in Title 6, Code of Federal Regulations 13 F. R.
9458, 9459 , are amended to read as fol lows :
372.2 Delegation o f authority. Sub ject to the policies and procedures pre scribed in 372.1 to 372.11 with respect to direct Farm Ownership loans and in sured loans which have been assigned to the Government:
a The State Director is authorized to:
1 Approve grant of easements and rights-of-way by a borrower.
2 Approve sale or exchange of por tion of farm.
3 Approve sale or exchange of water rights.
4 Approve sale or lease of mineral rights owned by a borrower.
5 Assign, without recourse, Farm Ownership notes and security instru ments.
b The State Director or his dele gate is authorized to:
1 Determine when it appears that a borrower can secure refinancing credit and require refinancing when other ac ceptable credit is available.
2 Approve a lease by, or to lease on behalf of, a borrower.
3 Execute a caretakers agreement.
4 Make or authorize the advance of funds on behalf of a borrower and charge the amount to the borrowers Farm Own ership account.
5 Approve the sale of a farm outside the program.
c The State Field Representative is authorized to:
1 Consent to the construction or al teration of buildings other than planned when the labor and material cost will exceed $500 and is paid by the borrower.
2 Approve the sale or exchange in cluding removal of timber when the proceeds of the sale cr sales within a 12month period will exceed $100.

3
Approve the sale including re CONTENTS
moval of sand, gravel, stone, or coal which the borrower owns when the pro Agriculture Department ceeds of the sale or sales within a 12S ee also Commodity Exchange Au month period will exceed $100.
thority; Farmers Home Admin d The County Supervisor is author istration; Rural Electrification ized to:
Administration.
Notices :
1 Consent to the construction or al Sugarcane in Florida ; hearing-
teration of buildings other than planned Proposed rule making:
when the labor and material cost will not Grapefruit in Arizona and Cal exceed $500 and is paid by the borrower.
ifornia Corr.______ _______
2 Approve the sale or lease of naval Milk handling, Massachusetts:
stores.
Fall River area_____________
3 Approve the sale or exchange in Greater Boston area_______
cluding removal of timber when the Lowell-Lawrence area______
proceeds of the sale or sales within a 12Rules and regulations:
month period will not exceed $100.
Wheat ; 1948 l o a n program 4 Approve the sale including re Corr._____________________
moval of sand, gravel, stone, or coal which the borrower owns when the pro Alien Property, Office of ceeds of the sale or sales within a 12Notices:
month period will not exceed $100. Sec.
Vesting orders, etc.:
41 i, 60 Stat. 1066, 7 U. S. C. 1015 i
Costs and expenses incurred FHA Instruction 465.1
in certain court actions:
Burlington County, N. J _
372.3 R efinancing w ith respect to Cook County, 111__________
loans m ade on and a fter N ovember 1, Helm, Maria________________
1946. The Bankhead-Jones Farm Ten Muller, Rosie Hutzler, and ant Act, as amended, and the security in Alfred Levinger__________
struments executed on or after Novem Uyeno, Miyo________________
ber 1, 1946, require the borrower, upon request of the Secretary, to apply for and Army Department accept a loan in sufficient amount to re Rules and regulations:
pay the secured indebtedness. Each year Joint procurement regulations;
following completion of the checkout, the miscellaneous amendments_
County Supervisor will review all out Civil Aeronautics Board standing direct and insured Farm Own ership loans made on or after November Proposed rule making:
Air transportation of passen 1, 1946, and will present for considera gers in single-engine and nontion of the County Committee those loans transport-type aircraft___
on which 35 percent or more of the prin Commodity Exchange Authority cipal of the loan has been repaid. The Rules and regulations:
County Committee will consider and Grains, flaxseed, and soybeans, make its recommendation as to those borrowers who it believes may be able special provisions applicable to secure other financing on reasonable Commodity Exchange Commis rates and terms prevailing in thé com sion munity but not to exceed the interest S
ee Commodity Exchange Author rate of 5 percent. Before making its ity.
recommendation, the County Committee Customs Bureau may deem it advisable to make a pre Rules and regulations:
liminary check in the area to determine if such credit appears to be available.
Duties, liquidation; conversion Their findings will be included in their of currency; French franc recommendation to the State Director.
Farmers Home Administration Each borrower who the County Commit Rules and regulations:
tee believes may be able to secure such Security servicing and liquida refinancing shall be notified by a letter tions, Farm O w n e r s h i p from the County Supervisor to attempt loans:
to secure other financing and to report Delegations of authority and Continued on next page refinancing_______________
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