TITLE 7 - AGRICULTURE

SUBTITLE B - REGULATIONS OF THE DEPARTMENT OF AGRICULTURE

CHAPTER XLII - RURAL BUSINESS - COOPERATIVE SERVICE AND RURAL UTILITIES SERVICE, DEPARTMENT OF AGRICULTURE

SUBCHAPTER I - ADMINISTRATIVE REGULATIONS

PART 4290 - RURAL BUSINESS INVESTMENT COMPANY (''RBIC'') PROGRAM

subpart m - MISCELLANEOUS

4290.1920 - RBIC's application for exemption from a regulation in this part 4290.

  (a) General. You may file an application in writing with the Secretary to have a proposed action exempted from any procedural or substantive requirement, restriction, or prohibition to which it is subject under this part, unless the provision is mandated by the Act. The Secretary may grant an exemption for such applicant, conditionally or unconditionally, provided the exemption would not be contrary to the purposes of the Act.

  (b) Contents of application. Your application must be accompanied by supporting evidence that demonstrates to the Secretary's satisfaction that: (1) The proposed action is fair and equitable; and (2) The exemption requested is reasonably calculated to advance the best interests of the RBIC program in a manner consistent with the policy objectives of the Act and the regulations in this part.