[Federal Register Volume 59, Number 163 (Wednesday, August 24, 1994)]
[Unknown Section]
[Page 0]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 94-20782]
Federal Register / Vol. 59, No. 163 / Wednesday, August 24, 1994 /
[[Page Unknown]]
[Federal Register: August 24, 1994]
VOL. 59, NO. 163
Wednesday, August 24, 1994
DEPARTMENT OF AGRICULTURE
Farmers Home Administration
7 CFR Parts 1900 and 1955
Delegation of Authority to the Chair of the Loan Resolution Task
Force
AGENCY: Farmers Home Administration, USDA.
ACTION: Final rule.
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SUMMARY: This document amends the delegations of authority from the
Administrator, Farmers Home Administration (FmHA), to delegate specific
loan collection authority to the Chair of the Loan Resolution Task
Force.
EFFECTIVE DATE: August 24, 1994.
FOR FURTHER INFORMATION CONTACT:
Robert L. Siegler, Office of General Counsel, (202) 720-6035.
SUPPLEMENTARY INFORMATION: The Loan Resolution Task Force was
established to resolve by the end of fiscal year 1996, certain
delinquent direct loans that were made under the authority of the
Consolidated Farm and Rural Development Act. This document delegates to
the Chair of the Loan Resolution Task Force authority to collect and
settle certain delinquent loans.
This rule relates to internal agency management. Therefore,
pursuant to 5 U.S.C. 553, notice of proposed rulemaking and opportunity
for comment are not required, and this rule may be made effective less
than 30 days after publication in the Federal Register. Further, since
this rule relates to internal agency management, it is exempt from the
provisions of Executive Order Nos. 12778 and 12866. Finally, this
action is not a rule as defined by Pub. L. No. 96-354, the Regulatory
Flexibility Act, and, thus, is exempt from the provisions of that Act.
Programs Affected
This action affects the following FmHA programs/activities listed
in the Catalog of Federal Domestic Assistance under Nos.
10.404 Emergency Loans
10.406 Farm Operating Loans
10.407 Farm Ownership Loans
10.408 Economic Emergency Loans
List of Subjects in 7 CFR Parts 1900 and 1955
Appeal procedure, Authority delegations (Government agencies),
Foreclosure, Government acquired property, Loan payments--agriculture.
Accordingly, Chapter XVIII, Title 7, Code of Federal Regulations,
is amended as follows:
PART 1900--GENERAL
1. The authority citation for part 1900 continues to read as
follows:
Authority: 7 U.S.C. 1989; 42 U.S.C. 1480; 5 U.S.C. 301; 7 CFR
2.23 and 2.70.
Subpart A--Delegations of Authority
2. Section 1900.6 is redesignated as Sec. 1900.7 and a new
Sec. 1900.6 is added to read as follows:
Sec. 1900.6 Chair, Loan Resolution Task Force.
The Chair, Loan Resolution Task Force is delegated the following
authorities, to be exercised until September 30, 1996:
(a) The responsibility for, under applicable Farmers Home
Administration regulations, collecting and settling all delinquent
direct Farmer Program loans as defined in the Consolidated Farm and
Rural Development Act, as amended, that have received all primary
servicing rights and pre-acceleration homestead and preservation loan
servicing rights under 7 CFR part 1951, subpart S;
(b) The responsibility for making and directing the making of loan
servicing decisions, under applicable Farmers Home Administration
regulations, concerning delinquent direct Farmer Programs loans for
which accrued principal and interest equals or exceeds one million
dollars, to extend to borrowers their remaining primary servicing
rights and pre-acceleration homestead and preservation loan servicing
rights under 7 CFR part 1951, subpart S;
(c) Authority for approving the grant of exceptions pursuant to
Secs. 1951.916, 1955.21, 1956.99 and 1965.35 of this chapter, to the
extent necessary to carry out the responsibilities described in
paragraphs (a) and (b) of this section.
PART 1955--PROPERTY MANAGEMENT
3. The authority citation for part 1955 continues to read as
follows:
Authority: 5 U.S.C. 301; 7 U.S.C. 1989; 42 U.S.C. 1480; 7 CFR
2.23 and 2.70.
Subpart A--Liquidation of Loans Secured by Real Estate and
Acquisition of Real and Chattel Property
4. Section 1955.4(a) is revised to read as follows:
Sec. 1955.4 Redelegation of authority.
* * * * *
(a) Except as provided in Sec. 1900.6(c) of this chapter, any
authority in this subpart which is specifically delegated to the
Administrator or to an Assistant Administrator may only be delegated to
a State Director. The State Director cannot redelegate such authority.
* * * * *
Dated: August 17, 1994.
Michael Dunn,
Administrator, Farmers Home Administration.
[FR Doc. 94-20782 Filed 8-23-94; 8:45 am]
BILLING CODE 3410-07-M