7 USC Ch. 31: Front Matter
From Title 7-AGRICULTURECHAPTER 31-RURAL ELECTRIFICATION AND TELEPHONE SERVICE
CHAPTER 31-RURAL ELECTRIFICATION AND TELEPHONE SERVICE
SUBCHAPTER I-RURAL ELECTRIFICATION
Sec.
901.
Short title.
902.
General authority of Secretary of Agriculture.
(a)
Loans.
(b)
Investigations and reports.
903.
Authorization of appropriations.
904.
Loans by Secretary of Agriculture for electrical plants and transmission lines; preferences; consent of State authorities.
905.
Repealed.
906.
Funding for administrative expenses.
906a.
Use of funds outside the United States or its territories prohibited.
907.
Acquisition of property pledged for loans; disposition; sale of pledged property by borrower.
908.
Repealed.
909.
Administration on nonpolitical basis; dismissal of officers or employees for violating provision.
910.
Repealed.
911.
Acceptance of services of Federal or State officers; application of civil service laws; expenditures for supplies and equipment.
911a.
Repealed.
912.
Extension of time for repayment of loans.
912a.
Rescheduling and refinancing of loans.
913.
Definitions.
914.
Separability.
915.
Purchase of financial and credit reports.
916.
Criteria for loans.
917.
Prohibition on restricting water and waste facility services to electric customers.
(a)
Prohibition.
(b)
Ensuring compliance.
(c)
"Rural development programs" defined.
(d)
Regulations.
918.
General prohibitions.
(a)
No consideration of borrower's level of general funds.
(b)
Loan origination fees.
(c)
Consultants.
SUBCHAPTER II-RURAL TELEPHONE SERVICE
921.
Congressional declaration of policy.
921a.
Policy of financing of rural telephone program.
921b.
Policy of expansion of markets for debentures.
922.
Loans for rural telephone service.
923.
State regulation of telephone service.
924.
Definition of telephone service and rural area.
925.
Loan feasibility.
926.
Certain rural development investments by qualified telephone borrowers not treated as dividends or distributions.
(a)
In general.
(b)
"Qualified telephone borrower" defined.
927.
General duties and prohibitions.
(a)
Duties.
(b)
Prohibitions.
928.
Prompt processing of telephone loans.
SUBCHAPTER III-RURAL ELECTRIC AND TELEPHONE DIRECT LOAN PROGRAMS
930.
Congressional declaration of policy.
931.
Rural Electrification and Telephone Revolving Fund.
931a.
Level of loan programs under Rural Electrification and Telephone Revolving Fund.
932.
Liabilities and uses of Rural Electrification and Telephone Revolving Fund.
(a)
Liabilities and obligations of fund.
(b)
Uses of fund assets.
(c)
Separate electric and telephone accounts.
933.
Moneys in the Rural Electrification and Telephone Revolving Fund.
934.
Authorized financial transactions; interim notes; purchase of obligations for resale; sale of notes and certificates; liens.
935.
Insured loans; interest rates and lending levels.
(a)
In general.
(b)
Insured loans.
(c)
Insured electric loans.
(d)
Insured telephone loans.
936.
Guaranteed loans; accommodation and subordination of liens; interest rates; assignability of guaranteed loans and related guarantees.
936a.
Prepayment of loans.
(a)
Conditions for prepayment.
(b)
Charges on prepayment prohibited.
(c)
Disqualification for prepayment on finding of adverse affect on Federal Financing Bank.
(d)
Amount of permissible prepayments; establishment of eligibility criteria.
(e)
Assignability and transferability of guarantees of loans.
936b.
Sale or prepayment of direct or insured loans.
(a)
Discounted prepayment by borrowers of electric loans.
(b)
Mergers of electric borrowers.
936c.
Refinancing and prepayment of FFB loans.
(a)
In general.
(b)
Penalty.
(c)
Loan terms and conditions after refinancing.
(d)
Maximum rate option.
936d.
Eligibility of distribution borrowers for loans, loan guarantees, and lien accommodations.
936e.
Administrative prohibitions applicable to certain electric borrowers.
(a)
In general.
(b)
Subordination or sharing of liens.
(c)
Issuance of regulations.
(d)
Authority of Secretary.
937.
Loans from other credit sources.
938.
Full faith and credit of the United States.
939.
Loan terms and conditions.
940.
Refinancing of rural development loans.
940a.
Repealed.
940b.
Use of funds.
940c.
Cushion of credit payments program.
(a)
Establishment.
(b)
Uses of cushion of credit payments.
940d.
Limitations on authorization of appropriations.
(a)
"Adjustment percentage" defined.
(b)
Fiscal years 1994 through 1998.
(c)
Funding levels.
(d)
Availability of funds for insured loans.
SUBCHAPTER IV-RURAL TELEPHONE BANK
941.
Telephone Bank.
(a)
Establishment.
(b)
General purposes.
(c)
Status; payments in lieu of property taxes.
942.
General powers.
943.
Special provisions governing telephone bank as a Federal Agency until conversion of ownership, control, and operation.
(a)
Supervision and direction of Secretary of Agriculture; free postage and priority of debts restrictions.
(b)
Use of facilities and services of employees of Secretary of Agriculture.
(c)
Wholly owned Government corporation.
(d)
Appointment and compensation of personnel.
(e)
Tort claims and litigation.
944.
Governor of telephone bank; functions, powers, and duties.
944a.
Publication of rural telephone bank policies and regulations.
945.
Board of directors.
(a)
In general.
(b)
Membership.
(c)
Elections.
(d)
Compensation.
(e)
Succession.
(f)
Chairperson.
(g)
Bylaws.
(h)
Meetings.
(i)
Annual report.
(j)
Open meetings.
946.
Capitalization.
(a)
Federal and borrower subscriptions; Federal limitation; report to President, transmittal to Congress; net collection proceeds.
(b)
Stock classification; voting stock; one vote rule.
(c)
Class A stock; issuance to Secretary of Agriculture and redemption; cumulative return.
(d)
Class B stock; borrowers as holders; dividend prohibition; patronage refunds.
(e)
Class C stock; borrowers as purchasers; dividends.
(f)
Special fund equivalents.
(g)
Patronage refunds from remaining earnings after provision for operating expenses, reserves for losses, payments in lieu of taxes, and returns on class A and C stock.
(h)
Reserve for losses due to interest rate fluctuations.
(i)
Investment of RTB Equity Fund.
947.
Borrowing power; telephone debentures; issuance; interest rates; terms and conditions; ratio to paid-in capital and retained earnings; investments in debentures; debentures as security; purchase and sale of debentures by the Secretary of the Treasury; treatment as public debt transactions of the United States; exclusion of transactions from budget totals.
948.
Lending power.
(a)
Loans for prescribed purposes; requisite conditions.
(b)
Terms and conditions of loans; restrictions on loans.
(c)
Payment schedule; adjustment; loan period.
(d)
Borrowers to determine amortization period for rural telephone bank loans.
(e)
Interest on loans and advances.
949.
Telephone bank receipts; availability for obligations and expenditures.
950.
Conversion of ownership, control, and operation of telephone bank.
(a)
Transfer of powers and authority from Secretary of Agriculture to Telephone Bank Board; cessation of Presidential appointees as Board members and reduction in number of Board members; status of telephone bank.
(b)
Restrictions of section 948(a)(2) of this title inapplicable to loans upon redemption and retirement of class A stock.
(c)
Congressional review.
950a.
Liquidation or dissolution of telephone bank.
950b.
Borrower net worth.
SUBCHAPTER V-RURAL ECONOMIC DEVELOPMENT
950aa.
Additional powers and duties.
950aa–1.
Repealed.
Chapter Referred to in Other Sections
This chapter is referred to in sections 950aaa–2, 1926, 1981, 6941, 6942 of this title; title 12 section 2129; title 16 sections 590z–7, 824k; title 43 sections 485h, 1764.