§ 681. Capacity of minors. Any person otherwise qualifying for a loan
from the corporation, or qualifying for a loan guaranteed by the
corporation, shall not be disqualified by reason of his being under the
age of eighteen years and for the purposes of applying for, receiving
and repaying such a loan any such person shall be deemed to have full
legal capacity to act; provided, however, that the signature of both
parents of an applicant not meeting emancipated status requirements
shall be required for the purposes of receiving such a loan unless the
president determines in accordance with rules and regulations to be
promulgated by the board that unusual family circumstances preclude the
availability of such signatures.