2012 U.S. Code
Title 7 - Agriculture
Chapter 31 - RURAL ELECTRIFICATION AND TELEPHONE SERVICE (§§ 901 - 950bb-1)
Subchapter IV - RURAL TELEPHONE BANK (§§ 941 - 950b)
Section 950b - Borrower net worth
| Publication Title | United States Code, 2012 Edition, Title 7 - AGRICULTURE |
| Category | Bills and Statutes |
| Collection | United States Code |
| SuDoc Class Number | Y 1.2/5: |
| Contained Within | Title 7 - AGRICULTURE CHAPTER 31 - RURAL ELECTRIFICATION AND TELEPHONE SERVICE SUBCHAPTER IV - RURAL TELEPHONE BANK Sec. 950b - Borrower net worth |
| Contains | section 950b |
| Date | 2012 |
| Laws in Effect as of Date | January 15, 2013 |
| Positive Law | No |
| Disposition | standard |
| Source Credit | May 20, 1936, ch. 432, title IV, §412, as added Pub. L. 92-12, §2, May 7, 1971, 85 Stat. 37; amended Pub. L. 103-354, title II, §235(a)(13), Oct. 13, 1994, 108 Stat. 3221. |
| Statutes at Large References | 85 Stat. 37 108 Stat. 3221 |
| Public Law References | Public Law 92-12, Public Law 103-354 |
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Except as provided in subsection (b)(2) of section 948 of this title, notwithstanding any other provision of law, a loan shall not be made under section 922 of this title to any borrower which during the immediately preceding year had a net worth in excess of 20 per centum of its assets unless the Secretary finds that the borrower cannot obtain such a loan from the telephone bank or from other reliable sources at reasonable rates of interest and terms and conditions.
(May 20, 1936, ch. 432, title IV, §412, as added Pub. L. 92–12, §2, May 7, 1971, 85 Stat. 37; amended Pub. L. 103–354, title II, §235(a)(13), Oct. 13, 1994, 108 Stat. 3221.)
Amendments1994—Pub. L. 103–354 substituted “Secretary” for “Administrator”.
Effective DateSection effective May 7, 1971, see section 7 of Pub. L. 92–12, set out as a note under section 921a of this title.
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