Title 7, AgricultureRelease 119-102
§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
Summary
Upon borrower request, Secretary must refinance rural electric and telephone loans under [7 U.S.C. 1921 et seq.] with 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
Aug 21, 2026
Release point: 119-102