7 USC 940b: Use of funds
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7 USC 940b: Use of funds Text contains those laws in effect on January 4, 1995
From Title 7-AGRICULTURECHAPTER 31-RURAL ELECTRIFICATION AND TELEPHONE SERVICESUBCHAPTER III-RURAL ELECTRIC AND TELEPHONE DIRECT LOAN PROGRAMS
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§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, §312, as added Dec. 22, 1987, Pub. L. 100–203, title I, §1402, 101 Stat. 1330–21 ; amended Oct. 13, 1994, Pub. L. 103–354, title II, §235(a)(13), 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.