7 U.S.C. § 940b

Current through P.L. 118-64 (published on www.congress.gov on 05/24/2024), except for [P. L. 118-63]

Section 940b - Use of funds

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.

7 U.S.C. § 940b

May 20, 1936, ch. 432, title III, §312, as added Pub. L. 100-203, title I, §1402, Dec. 22, 1987, 101 Stat. 1330-21; amended Pub. L. 103-354, title II, §235(a)(13), Oct. 13, 1994, 108 Stat. 3221.

EDITORIAL NOTES

AMENDMENTS1994- Pub. L. 103-354 substituted "Secretary" for "Administrator".

Secretary

The term "Secretary" means the Secretary of Agriculture.