[Code of Federal Regulations]
[Title 7, Volume 11]
[Revised as of January 1, 2003]
From the U.S. Government Printing Office via GPO Access
[CITE: 7CFR1822.264]

[Page 1171]
 
                          TITLE 7--AGRICULTURE
 
    CHAPTER XVIII--RURAL HOUSING SERVICE, RURAL BUSINESS-COOPERATIVE 
SERVICE, RURAL UTILITIES SERVICE, AND FARM SERVICE AGENCY, DEPARTMENT OF 
                               AGRICULTURE
 
PART 1822--RURAL HOUSING LOANS AND GRANTS--Table of Contents
 
      Subpart G--Rural Housing Site Loan Policies, Procedures, and 
                             Authorizations
 
Sec. 1822.264  Eligibility requirements.

    (a) Eligibility of applicant. To be eligible for an RHS loan, the 
applicant must be a private or public nonprofit organization as defined 
in Sec. 1822.263 (a) or (b) which is authorized to provide housing sites 
on a nonprofit basis.
    (1) If it is a private nonprofit organization as defined in 
Sec. 1822.263(a), it should also:
    (i) Have a membership of at least 10 community leaders.
    (ii) Plan to adopt, if it is being newly organized, articles of 
incorporation and bylaws that generally conform to model articles and 
bylaws provided by the State director which will be consistent with 
State law and with changes appropriate to the purposes and powers of an 
eligible applicant under this subpart.
    (2) [Reserved]
    (b) Authorized representative of applicant. The Farmers Home 
Administration (FmHA) or its successor agency under Public Law 103-354 
will deal only with the applicant or bona fide representative or the 
applicant or the representative's technical advisors. An authorized 
representative of the applicant must have no pecuniary interest in the 
award of the engineering, architectural or construction contracts, 
necessary equipment, or the purchase or development of the land.