2012 US Code
Title 7 - Agriculture
Chapter 50 - AGRICULTURAL CREDIT (§§ 1921 - 2009ee-3)
Subchapter VIII - RURAL BUSINESS INVESTMENT PROGRAM (§§ 2009cc - 2009cc-18)
Section 2009cc-4 - Debentures
| 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 50 - AGRICULTURAL CREDIT SUBCHAPTER VIII - RURAL BUSINESS INVESTMENT PROGRAM Sec. 2009cc-4 - Debentures |
| Contains | section 2009cc-4 |
| Date | 2012 |
| Laws in Effect as of Date | January 15, 2013 |
| Positive Law | No |
| Disposition | standard |
| Source Credit | Pub. L. 87-128, title III, §384E, as added Pub. L. 107-171, title VI, §6029, May 13, 2002, 116 Stat. 393. |
| Statutes at Large Reference | 116 Stat. 393 |
| Public Law References | Public Law 87-128, Public Law 107-171 |
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The Secretary may guarantee the timely payment of principal and interest, as scheduled, on debentures issued by any rural business investment company.
(b) Terms and conditionsThe 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.
(c) Full faith and credit of the United StatesSection 2009g(i) of this title shall apply to any guarantee under this section.
(d) Maximum guaranteeUnder this section, the Secretary may—
(1) 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—
(A) 300 percent of the private capital of the rural business investment company; or
(B) $105,000,000; and
(2) provide for the use of discounted debentures.
(Pub. L. 87–128, title III, §384E, as added Pub. L. 107–171, title VI, §6029, May 13, 2002, 116 Stat. 393.)
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