[Code of Federal Regulations]
[Title 25, Volume 1]
[Revised as of April 1, 2005]
From the U.S. Government Printing Office via GPO Access
[CITE: 25CFR101.1]

[Page 288-289]
 
                            TITLE 25--INDIANS
 
     CHAPTER I--BUREAU OF INDIAN AFFAIRS, DEPARTMENT OF THE INTERIOR
 
PART 101_LOANS TO INDIANS FROM THE REVOLVING LOAN FUND--Table of Contents
 
Sec. 101.1  Definitions.




Sec.
101.1 Definitions.
101.2 Kinds of loans.
101.3 Eligible borrowers under United States direct loan program.
101.4 Applications.
101.5 Approval of loans.
101.6 Modification of loans.
101.7 Management and technical assistance.
101.8 Environmental and Flood Disaster Acts.
101.9 Preservation of historical and archeological data.
101.10 Federal Reserve Regulation Z and Fair Credit Reporting Act.
101.11 Interest.
101.12 Records and reports.
101.13 Security.
101.14 Maturity.
101.15 Penalties on default.
101.16 Default on loans made by relending organizations.
101.17 Uncollectable loans made by the United States.
101.18 Uncollectable loans made by relending organizations.
101.19 Assignment of loans.
101.20 Relending by borrower.
101.21 Repayments on United States direct loans.
101.22 Repayments on loans made by relending organizations.
101.23 Approval of articles of association and bylaws.
101.24 Loans for expert assistance for preparation and trial of Indian 
          claims.
101.25 Information collection.

    Authority: 25 U.S.C. 1469.

    Source: 40 FR 3587, Jan. 23, 1975, unless otherwise noted. 
Redesignated at 47 FR 13327, Mar. 30, 1982.


    As used in this part 101:
    Applicant means an applicant for a United States Direct Loan from 
the revolving loan fund or a loan from a relending organization.
    Commissioner means the Commissioner of Indian Affairs or an 
authorized representative.
    Cooperative association means an association of individuals 
organized pursuant to state, Federal, or tribal law, for the purpose of 
owning and operating an economic enterprise for profit with profits 
distributed or allocated to patrons who are members of the organization.
    Corporation means an entity organized as a corporation pursuant to 
state, Federal, or tribal law, with or without stock, for the purpose of 
owning and operating an economic enterprise.
    Default means failure of a borrower to:
    (1) Make scheduled payments on a loan when due,
    (2) Obtain the lender's approval for disposal of assets mortgaged as 
security for a loan, or
    (3) Comply with the covenants, obligations, or other provisions of a 
loan agreement.
    Economic enterprise means any Indian-owned commercial, industrial, 
agricultural, or business activity established or organized for the 
purpose of profit, provided that eligible Indian ownership constitutes 
not less than 51 percent of the enterprise.
    Equity means the borrower's residual ownership, after deducting all 
business debt, of tangible business assets used in the business being 
financed, on which a lender can perfect a first lien position.
    Financing statement means the document filed or recorded in county 
or state offices pursuant to the provisions of the Uniform Commercial 
Code notifying third parties that a lender has a lien on the chattels 
and/or crops of a borrower.
    Indian means a person who is a member of an Indian tribe as defined 
in this part.
    Organization means the governing body of any Indian tribe, or entity 
established or recognized by such governing body for the purpose of the 
Indian Financing Act.
    Other organization means any non-Indian individual, firm, 
corporation, partnership, or association.
    Partnership means a form of business organization in which two or 
more legal persons are associated as co-owners for the purposes of 
business or professional activities for private pecuniary gain, 
organized pursuant to tribal, state, or Federal law.

[[Page 289]]

    Reservation means Indian reservation, California rancheria, public 
domain Indian allotment, former Indian reservation in Oklahoma, and land 
held by Alaska Native groups incorporated under the provisions of the 
Alaska Native Claims Settlement Act (85 Stat. 688), as amended.
    Revolving loan fund means all funds that are now or hereafter a part 
of the revolving fund authorized by the Act of June 18, 1934 (48 Stat. 
986), the Act of June 26, 1936 (49 Stat. 1968) and the Act of April 14, 
1950 (64 Stat. 44), as amended and supplemented including sums received 
in settlement of debts for livestock pursuant to the Act of May 24, 
1950, (64 Stat. 190) and sums collected in repayment of loans made, 
including interest or other charges on loans, and any funds appropriated 
pursuant to section 108 of the Indian Financing Act of 1974 (88 Stat. 
77).
    Secretary means the Secretary of the Interior.
    Tribe means any Indian tribe, bank, nation, rancheria, pueblo, 
colony or community, including any Alaska Native village or any 
regional, village, urban or group corporation as defined in or 
established pursuant to the Alaska Native Claims Settlement Act (85 
Stat. 688), as amended, which is recognized by the Federal Government as 
eligible for services from the Bureau of Indian Affairs.

[57 FR 46471, Oct. 8, 1992]