Direct Loan Obligation

Summary

A “direct loan obligation” is a term used in the Federal Credit Reform Act of 1990 (which is title V  of the Congressional Budget Act of 1974). It is defined in section 502(2) of that Act.


Federal Credit Reform Act of 1990

Direct Loan Obligation

sec. 502. definitions.

For purposes of this title—

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(2) The term “direct loan obligation” means a binding agreement by a Federal agency to make a direct loan when specified conditions are fulfilled by the borrower.


 

 

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