§ 940b - Use of funds

CHAPTER 31— RURAL ELECTRIFICATION AND TELEPHONE SERVICE › SUBCHAPTER III— RURAL ELECTRIC AND TELEPHONE DIRECT LOAN PROGRAMS

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.

Notes

Editorial Notes

Amendments

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