Title 7 — AgricultureRelease 119-73not60
§940b Use of Funds
Title 7 › Chapter 31— RURAL ELECTRIFICATION AND TELEPHONE SERVICE › Subchapter III— RURAL ELECTRIC AND TELEPHONE DIRECT LOAN PROGRAMS › § 940b
Summary
A borrower with an insured or guaranteed electric loan can use its own money, or make loans or guarantees, up to 15 percent of its total utility plant. The borrower does not need prior approval from the Secretary to do this.
Full Legal Text
Title 7, §940b
Agriculture — Source: USLM XML via OLRC
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.
Legislative History
Notes & Related Subsidiaries
Editorial Notes
Amendments
1994—Pub. L. 103–354 substituted “Secretary” for “Administrator”.
Reference
Citations & Metadata
Citation
7 U.S.C. § 940b
Title 7 — Agriculture
Last Updated
Apr 3, 2026
Release point: 119-73not60