Page:United States Statutes at Large Volume 101 Part 3.djvu/366

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PUBLIC LAW 100-000—MMMM. DD, 1987

101 STAT. 1664

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Regulations.

PUBLIC LAW 100-233—JAN. 6, 1988 mediation under any agricultural loan mediation program described in section 501; and (ii) present and explore debt restructuring proposals advanced in the course of such mediation. (2) NoNBiNDiNG ON SECRETARY.—The Secretary shall not be bound by any determination made in a program described in paragraph (1) if the Secretary has not agreed to such determination. (b) DUTIES OF THE F A R M

C R E D I T ADMINISTRATION.—The F a r m

Credit Administration shall prescribe rules requiring the institutions of the Farm Credit System— (1) to cooperate in good faith with requests for information or analysis of information made in the course of mediation under any agricultural loan mediation program described in section ~r 501; and (2) to present and explore debt restructuring proposals advanced in the course of such mediation. 7 USC 5104.

SEC. 504. REGULATIONS.

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Within 150 days after the date of the enactment of this Act, the Secretary and the Farm Credit Administration shall prescribe such regulations as may be necessary to carry out this subtitle. 7 USC 5105.

^ 7 USC 5106.

SEC. 505. REPORT.

Not later than January 1, 1990, the Secretary of Agriculture shall report to Congress on— (1) the effectiveness of the State agricultural loan mediation programs receiving matching grants under this subtitle; (2) recommendations for improving the delivery of mediation services to producers; and (3) the savings to the States as a result of having an agricultural loan mediation program. SEC. 506. AUTHORIZATION OF APPROPRIATIONS.

There are authorized to be appropriated to carry out this subtitle $7,500,000 for each of the fiscal years 1988 through 1991.

Subtitle B—Waiver of Mediation Rights SEC. 511. WAIVER OF MEDIATION RIGHTS BY FARM CREDIT SYSTEM BORROWERS.

r.r >»,: 12 USC 2202e.

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Part C of Title IV (12 U.S.C. 2151 et seq.) is amended by inserting after the section added by section 107 the following new section: "SEC. 4.14E. WAIVER OF MEDIATION RIGHTS BY BORROWERS.

"No System institution may make a loan secured by a mortgage or lien on agricultural property to a borrower on the condition that the borrower waive any right under the agricultural loan mediation program of any State.. SEC. 512. WAIVER OF MEDIATION RIGHTS BY FMHA BORROWERS.

Subtitle D of the Consolidated Farm and Rural Development Act (7 U.S.C. 1981 et seq.) is amended by adding after the section added by section 619 of this Act the following new section: