[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: 25CFR101.21]

[Page 297-298]
 
                            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. 101.21  Repayments on United States direct loans.

    Repayments on United States direct loans shall be made to the 
authorized collection officer of the Bureau of Indian Affairs who shall 
issue an official receipt for the repayment and deposit the collection 
into the revolving loan fund. Collections will first be applied to pay 
interest to date of payment and the balance applied on the principal 
installment due. Collections on loans made by relending organizations 
which have been declared in default in which the Commissioner has taken 
control of the assets of the program (including loans made with balances 
owing) will be made to an authorized collection officer of the Bureau of 
Indian Affairs who shall issue a receipt to the payor and deposit the 
collection in the United States revolving loan fund. The relending 
organization's loan from the United States will be credited with the 
amounts collected from its borrowers,

[[Page 298]]

with the collections applied first on interest accrued and the balance 
applied to the principal. Payments on United States direct loans may be 
made in advance of due dates without penalty.

[40 FR 3587, Jan. 23, 1975. Redesignated at 47 FR 13327, Mar. 30, 1982. 
Further redesignated at 57 FR 46472, Oct. 8, 1992]