25 USC 1488 – Lenders authorized to make loans; decrease or increase of liability under the guaranty
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Loans guaranteed hereunder may be made by any lender satisfactory to the Secretary, except as provided in section 1486 of this title. The liability under the guaranty shall decrease or increase pro rata with any decrease or increase in the unpaid portion of the obligation.
Terms Used In 25 USC 1488
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.