[Code of Federal Regulations]
[Title 7, Volume 14]
[Revised as of January 1, 2005]
From the U.S. Government Printing Office via GPO Access
[CITE: 7CFR1956.145]

[Page 268-269]
 
                          TITLE 7--AGRICULTURE
 
   CHAPTER XVIII--RURAL HOUSING SERVICE, RURAL BUSINESS--COOPERATIVE 
SERVICE, RURAL UTILITIES SERVICE, AND FARM SERVICE AGENCY, DEPARTMENT OF 
                         AGRICULTURE (CONTINUED)
 
PART 1956--DEBT SETTLEMENT--Table of Contents
 
       Subpart C--Debt Settlement--Community and Business Programs
 
Sec. 1956.145  Disposition of essential FmHA or its successor agency under Public Law 103-354 records.

    FmHA or its successor agency under Public Law 103-354 Instruction 
2033-A (available in any FmHA or its successor agency under Public Law 
103-354 office) identifies an ``essential FmHA or its successor agency 
under Public Law 103-354 record'' as the original of any document or 
record which provides evidence of indebtedness or obligation to FmHA or 
its successor agency under Public Law 103-354 and includes, but is not 
limited to: promissory notes, assumption agreements and valuable 
documents, such as bonds fully registered as to principal and interest.
    (a) Essential FmHA or its successor agency under Public Law 103-354 
records evidencing debts settled by compromise, completed adjustment or 
cancelled with application will be returned to the debtor or to the 
debtors' legal representative. The appropriate legend, such as 
``Satisfied by Approved Compromise,'' and the date of the final action 
will be stamped or typed on the original document. This same information 
plus the date the original document is returned to the debtor will be 
shown on a copy to be placed in the debtor's case folder.
    (b) Essential FmHA or its successor agency under Public Law 103-354 
records evidencing debts cancelled without application will be placed in 
the debtor's case folder and disposed of pursuant to FmHA or its 
successor agency under Public Law 103-354 Instruction 2033-A (available 
in any FmHA or its successor agency under Public Law 103-354 office). 
However, if the debtor requests the document(s), they must be stamped 
``Satisfied by Approved Cancellation'' and returned.
    (c) Essential FmHA or its successor agency under Public Law 103-354 
records evidencing charged off debts will be retained in the servicing 
office and will not be stamped or returned to the debtor. They will be 
destroyed six years after chargeoff pursuant to FmHA or its successor 
agency under Public Law 103-354 Instruction 2033-A

[[Page 269]]

(available in any FmHA or its successor agency under Public Law 103-354 
office).

[53 FR 13100, Apr. 21, 1988, as amended at 58 FR 21346, Apr. 21, 1993]