2016 US Code
Title 7 - Agriculture
Chapter 31 - Rural Electrification and Telephone Service
Subchapter IV - Rural Telephone Bank
Sec. 950b - Borrower net worth
| 7 U.S.C. § 950b (2016) |
| §950b. Borrower net worth |
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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. |
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(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.) |
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AMENDMENTS
1994—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. |
| United States Code, 2012 Edition, Supplement 4, Title 7 - AGRICULTURE |
| Bills and Statutes |
| United States Code |
| Y 1.2/5: |
| Title 7 - AGRICULTURE CHAPTER 31 - RURAL ELECTRIFICATION AND TELEPHONE SERVICE SUBCHAPTER IV - RURAL TELEPHONE BANK Sec. 950b - Borrower net worth |
| section 950b |
| 2016 |
| January 6, 2017 |
| No |
| standard |
| 85 Stat. 37 108 Stat. 3221 |
| Public Law 92-12, Public Law 103-354 |
