§ 940b. — Use of funds.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 7USC940b]
TITLE 7--AGRICULTURE
CHAPTER 31--RURAL ELECTRIFICATION AND TELEPHONE SERVICE
SUBCHAPTER III--RURAL ELECTRIC AND TELEPHONE DIRECT LOAN PROGRAMS
Sec. 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.
(May 20, 1936, ch. 432, title III, Sec. 312, as added Pub. L. 100-203,
title I, Sec. 1402, Dec. 22, 1987, 101 Stat. 1330-21; amended Pub. L.
103-354, title II, Sec. 235(a)(13), Oct. 13, 1994, 108 Stat. 3221.)
Amendments
1994--Pub. L. 103-354 substituted ``Secretary'' for
``Administrator''.
Section Referred to in Other Sections
This section is referred to in section 950aa of this title.
