Legal corpus: U.S. Code titles 1–11 from pinned OLRC XML (11,050 sections)
Raw OLRC USLM XML zips @ release 119-100 (retrieved 2026-07-04 via Atlas depot), ingested with the standard pipeline: raw snapshot -> per-section OKF markdown -> manifest + checksums. Title 52 untouched. LegalText: 171 -> 11,221. Titles 12-54 await a clean OLRC retry. Co-Authored-By: Claude Opus 4.8 <noreply@anthropic.com>
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---
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type: "LegalText"
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title: "7 U.S.C. § 940b"
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description: "Use of funds"
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jurisdiction: "us"
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corpus: "united_states_code"
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kind: "code_section"
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title_number: 7
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title_name: "AGRICULTURE"
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chapter_number: "31"
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chapter_name: "RURAL ELECTRIFICATION AND TELEPHONE SERVICE"
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section: "940b"
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citation: "7 U.S.C. § 940b"
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status: "current"
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release_point: "119-100"
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release_date: "2026-06-26"
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source: "official"
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source_url: "https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc07@119-100.zip"
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source_identifier: "/us/usc/t7/s940b"
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source_file: "data/legal/raw/us/code/title-07/usc07.xml"
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source_hash: "55db36b5a4fad28c84b2464855e6a10577093cfc8386f24d2abfc3fb9085cf44"
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raw_snapshot_hash: "50edab1679a711653797362c0aeb8f2273303fe473fb7fa16df1ee76bdd6e984"
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text_hash: "6693f3c159be78d72cfd5dbc93d951925d6de0a4ca98eeb84247bb6ea00bc960"
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retrieved_at: "2026-07-04"
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confidence: "official"
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tags: ["legal", "us-code"]
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---
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# 7 U.S.C. § 940b - Use of funds
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## Text
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A borrower of an insured or guaranteed electric loan under this chapter may, without restriction or prior approval of the Secretary, invest its own funds or make loans or guarantees, not in excess of 15 percent of its total utility plant.
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(May 20, 1936, ch. 432, title III, § 312, as added Pub. L. 100–203, title I, § 1402, Dec. 22, 1987, 101 Stat. 1330–21; amended Pub. L. 103–354, title II, § 235(a)(13), Oct. 13, 1994, 108 Stat. 3221.)
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## Notes
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Editorial Notes
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Amendments1994—Pub. L. 103–354 substituted “Secretary” for “Administrator”.
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