Code of Federal Regulations (Last Updated: May 6, 2024) |
Title 7 - Agriculture |
Subtitle B - Regulations of the Department of Agriculture |
Chapter VII - Farm Service Agency, Department of Agriculture |
SubChapter D - Special Programs |
Part 765 - Direct Loan Servicing - Regular |
Subpart D - Borrower Payments |
§ 765.151 - Handling payments.
Latest version.
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§ 765.151 Handling payments.
(a) Borrower payments. Borrowers must submit their loan payments in a form acceptable to the Agency, such as checks , cash, and money orders. Forms of payment not acceptable to the Agency include, but are not limited to, cash, foreign currency, foreign checks, and sight drafts.
(b) Crediting account. The Agency credits the borrower's account as of the date the Agency receives payment.
[72 FR 63309, Nov. 8, 2007, as amended at 87 FR 13124, Mar. 9, 2022]