7 U.S.C. § 2009cc–4 — Debentures
submitted 24 years ago by Pub. L. 87-128 to r/title-7-AGRICULTURE · 155 words · no verdicts yet
A translation hasn’t been published for this section yet. The official text below is complete and authoritative.
The Secretary may guarantee the timely payment of principal and interest, as scheduled, on debentures issued by any rural business investment company*.
The Secretary may make guarantees under this section on such terms and conditions as the Secretary considers appropriate, except that the term of any debenture guaranteed under this section shall not exceed 15 years.
Section 2009g(i) of this title shall apply to any guarantee under this section.
Under this section, the Secretary may—
guarantee the debentures issued by a rural* business investment company only to the extent that the total face amount of outstanding guaranteed debentures of the rural business investment company does not exceed the lesser of—
300 percent of the private capital* of the rural business investment company; or
$105,000,000; and
provide for the use of discounted debentures.
Source credit: (Pub. L. 87–128, title III, § 384E, as added Pub. L. 107–171, title VI, § 6029, May 13, 2002, 116 Stat. 393.)
- 2002Enacted · Pub. L. 87-128 · 116 Stat. 393
A history note hasn’t been published yet. The record shows enactment by Pub. L. 87-128 on 2002-05-13.
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