§926 Certain rural development investments by qualified telephone borrowers not treated as dividends or distributions

Summary

The Secretary must not count money a qualified telephone borrower puts into the rural development purposes listed in section 2204b(c)(2) as a dividend or capital distribution, as long as all such investments stay at or below one-third (⅓) of the borrower's net worth. The Secretary also may not require the borrower to get approval before making those investments. A qualified telephone borrower is someone who has a telephone loan made or guaranteed under this chapter and whose net worth is at least 20 percent of their total assets.