Title 7 — AgricultureRelease 119-73not60

§940 Refinancing of Rural Development Loans

Title 7 › Chapter 31— RURAL ELECTRIFICATION AND TELEPHONE SERVICE › Subchapter III— RURAL ELECTRIC AND TELEPHONE DIRECT LOAN PROGRAMS › § 940

Last updated Apr 3, 2026|Official source

Summary

Borrower request: Secretary must refinance rural electric and telephone loans under the Consolidated Farm and Rural Development Act into insured loans at section 935 rates.

Full Legal Text

Title 7, §940

Agriculture — Source: USLM XML via OLRC

At the request of the borrower, the Secretary is authorized and directed to refinance with loans which will be insured under this chapter at the interest rates provided in section 935 of this title any loans made for rural electric and telephone facilities under any provision of the Consolidated Farm and Rural Development Act [7 U.S.C. 1921 et seq.].

Legislative History

Notes & Related Subsidiaries

Editorial Notes

References in Text

The Consolidated Farm and Rural Development Act, referred to in text, is title III of Pub. L. 87–128, Aug. 8, 1961, 75 Stat. 307, which is classified principally to chapter 50 (§ 1921 et seq.) of this title. For complete classification of the Act to the Code, see

Short Title

note set out under section 1921 of this title and Tables.

Amendments

1994—Pub. L. 103–354 substituted “Secretary” for “Administrator”.

Statutory Notes and Related Subsidiaries

Effective Date

Section effective May 11, 1973, see section 12 of Pub. L. 93–32, set out as a note under section 930 of this title.

Reference

Citations & Metadata

Citation

7 U.S.C. § 940

Title 7 — Agriculture

Last Updated

Apr 3, 2026

Release point: 119-73not60