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7 U.S.C. § 940 — Refinancing of rural development loans

submitted 90 years ago by Pub. L. 93-32 to r/title-7-AGRICULTURE · 60 words · no verdicts yet

in plain englishAI-generated · not legal advice

At a borrower’s request, the Secretary must refinance certain rural electric and telephone-facility loans with insured loans at the interest rates specified in section 935.

At the borrower’s request, the Secretary is authorized and directed to refinance, with loans insured under this chapter and bearing the interest rates in 7 U.S.C. § 935, loans made under any provision of the Consolidated Farm and Rural Development Act for rural electric and telephone facilities.
the actual law source: uscode.house.gov ↗public domain

At the request of the borrower, the Secretary is authorized and directed to refinance with loans which will be insured under this chapter at the interest rates provided in section 935 of this title any loans made for rural electric and telephone facilities under any provision of the Consolidated Farm and Rural Development Act [7 U.S.C. 1921 et seq.].

Source credit: (May 20, 1936, ch. 432, title III, § 310, as added Pub. L. 93–32, § 2, May 11, 1973, 87 Stat. 70; amended Pub. L. 103–354, title II, § 235(a)(13), Oct. 13, 1994, 108 Stat. 3221.)

history & why it existsrecord from the source credit
  • 1936Enacted · Pub. L. 93-32 · 87 Stat. 70
  • 1994Amended · Pub. L. 103-354 · 108 Stat. 3221

A history note hasn’t been published yet. The record shows enactment by Pub. L. 93-32 on 1936-05-20.

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