Loans to purchasers of highly fractioned land

The Secretary of Agriculture is authorized to make direct loans in a manner consistent with direct loans pursuant to subtitle D of the Consolidated Farm and Rural Development Act ( 7 U.S.C. 1981 et seq.), to any Indian tribe recognized by the Secretary of the Interior or tribal corporation established pursuant to the Indian Reorganization Act ( 25 U.S.C. 477 ), 1 1

See References in Text note below. which does not have adequate uncommitted funds, to acquire lands or interests therein within the tribe’s reservation as determined by the Secretary of the Interior, or within a community in Alaska incorporated by the Secretary pursuant to the Indian Reorganization Act [ 25 U.S.C. 5101 et seq.], for use of the tribe or the corporation or the members of either. Such loans shall be limited to such Indian tribes or tribal corporations as have reasonable prospects of success in their proposed operations and as are unable to obtain sufficient credit elsewhere at reasonable rates and terms to finance the purposes authorized in sections 5136 to 5143 of this title.

( Pub. L. 91–229, § 1 , Apr. 11, 1970 , 84 Stat. 120 ; Pub. L. 110–234, title V, § 5501 , May 22, 2008 , 122 Stat. 1161 ; Pub. L. 110–246, § 4(a) , title V, § 5501, June 18, 2008 , 122 Stat. 1664 , 1922; Pub. L. 113–79, title V, § 5402 , Feb. 7, 2014 , 128 Stat. 840 .)