Title 7
SECTION 770.2
770.2 Abbreviations and definitions.
§ 770.2 Abbreviations and definitions.(a) Abbreviations.
FSA Farm Service Agency, an Agency of the United States Department of Agriculture, including its personnel and any successor Agency.
ITLAP Indian Tribal Land Acquisition Program.
USPAP Uniform Standards of Professional Appraisal Practice.
(b) Definitions.
Administrator is the head of the Farm Service Agency.
Agency is Farm Service Agency (FSA).
Appraisal is an appraisal for the purposes of determining the market value of land (less value of any existing improvements that pass with the land) that meets the requirements of part 761 of this chapter.
Applicant is a Native American tribe or tribal corporation established pursuant to the Indian Reorganization Act seeking a loan under this part.
Loan funds refers to money loaned under this part.
Native American tribe is:
(1) An Indian tribe recognized by the Department of the Interior; or
(2) A community in Alaska incorporated by the Department of the Interior pursuant to the Indian Reorganization Act.
Rental value for the purpose of rental value write-downs, equals the average actual rental proceeds received from the lease of land acquired under ITLAP. If there are no rental proceeds, then rental value will be based on market data according to § 770.10(e)(4).
Reservation is lands or interests in land within:
(1) The Native American tribe's reservation as determined by the Department of the Interior; or
(2) A community in Alaska incorporated by the Department of the Interior pursuant to the Indian Reorganization Act.
Reserve is an account established for loans approved in accordance with regulations in effect prior to February 8, 2001 which required that an amount equal to 10 percent of the annual payment be set aside each year until at least one full payment is available.
Tribal corporation is a corporation established pursuant to the Indian Reorganization Act.
[66 FR 1567, Jan. 9, 2001, as amended at 70 FR 7167, Feb. 11, 2005; 72 FR 51990, Sept. 12, 2007]