Title 7, AgricultureRelease 119-73not60

§2009cc–4 Debentures

Title 7 › Chapter 50— AGRICULTURAL CREDIT › Subchapter VIII— RURAL BUSINESS INVESTMENT PROGRAM › § 2009cc–4

Last updated Apr 3, 2026|Official source

Summary

The Secretary can guarantee that scheduled principal and interest on debentures issued by rural business investment companies will be paid on time. The Secretary can set the guarantee terms but no guaranteed debenture can have a term longer than 15 years. A related law provision also applies to these guarantees. The total face amount of outstanding guaranteed debentures for any company cannot exceed the smaller of 300 percent of its private capital or $105,000,000, and the Secretary may allow discounted debentures.

Full Legal Text

Title 7, §2009cc–4

Agriculture, Source: USLM XML via OLRC

(a)The Secretary may guarantee the timely payment of principal and interest, as scheduled, on debentures issued by any rural business investment company.

(b)The Secretary may make guarantees under this section on such terms and conditions as the Secretary considers appropriate, except that the term of any debenture guaranteed under this section shall not exceed 15 years.

(c)section 2009g(i) of this title shall apply to any guarantee under this section.

(d)Under this section, the Secretary may—

(1)guarantee the debentures issued by a rural business investment company only to the extent that the total face amount of outstanding guaranteed debentures of the rural business investment company does not exceed the lesser of—

(A)300 percent of the private capital of the rural business investment company; or

(B)$105,000,000; and

(2)provide for the use of discounted debentures.

Reference

Citations & Metadata

Citation

7 U.S.C. § 2009cc–4

Title 7, Agriculture

Last Updated

Apr 3, 2026

Release point: 119-73not60