This subpart provides Rural Development policy concerning:

(a) The applicability of Federal rather than State Law in the conduct of Rural Development operations, and

(b) The liability of an auctioneer for conversion of personal property mortgaged to Rural Development.

[44 FR 10979, Feb. 26, 1979, as amended at 45 FR 8934, Feb. 11, 1980; 80 FR 9867, Feb. 24, 2015]