Use of funds

  1. Law
  2. USC 7
  3. Agriculture
  4. RURAL ELECTRIFICATION AND TELEPHONE SERVICE
  5. RURAL ELECTRIC AND TELEPHONE DIRECT LOAN PROGRAMS
  6. Use of funds

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§940b. Use of funds

A borrower of an insured or guaranteed electric loan under this chapter may, without restriction or prior approval of the Secretary, invest its own funds or make loans or guarantees, not in excess of 15 percent of its total utility plant.

(May 20, 1936, ch. 432, title III, §312, as added Pub. L. 100–203, title I, §1402, Dec. 22, 1987, 101 Stat. 1330–21 ; amended Pub. L. 103–354, title II, §235(a)(13), Oct. 13, 1994, 108 Stat. 3221 .)

Amendments

1994-Pub. L. 103–354 substituted "Secretary" for "Administrator".


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