Amendment97th Congress
An amendment permitting borrowers who are owed money from third parties that are involved in liquidation procedures under the Bankruptcy Act, to defer the payment of their loans (principle and interest) for a period of time to permit the third party to make payments under the Bankruptcy procedures. The Secretary must determine that the estate of the third party is "likely" to have sufficient assests to reimburse the borrower requesting the deferral on his loan.
- Amendment Number
- 831
- Description
- An amendment permitting borrowers who are owed money from third parties that are involved in liquidation procedures under the Bankruptcy Act, to defer the payment of their loans (principle and interest) for a period of time to permit the third party to make payments under the Bankruptcy procedures. The Secretary must determine that the estate of the third party is "likely" to have sufficient assests to reimburse the borrower requesting the deferral on his loan.
- Purpose
- An amendment permitting borrowers who are owed money from third parties that are involved in liquidation procedures under the Bankruptcy Act, to defer the payment of their loans (principle and interest) for a period of time to permit the third party to make payments under the Bankruptcy procedures. The Secretary must determine that the estate of the third party is "likely" to have sufficient assests to reimburse the borrower requesting the deferral on his loan.
- Congress
- 97
- Type
- HAMDT
- Latest Action Date
- Sep 9, 1982
- Latest Action Text
- Amendment Passed in Committee of the Whole by Voice Vote.
- Submitted Date
- Sep 9, 1982
- Chamber
- House of Representatives
- Update Date
- Aug 14, 2021