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Co-Authored-By: Claude Opus 4.8 <noreply@anthropic.com>
2026-07-06 09:52:37 -04:00

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LegalText 7 U.S.C. § 940 Refinancing of rural development loans us united_states_code code_section 7 AGRICULTURE 31 RURAL ELECTRIFICATION AND TELEPHONE SERVICE 940 7 U.S.C. § 940 current 119-100 2026-06-26 official https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc07@119-100.zip /us/usc/t7/s940 data/legal/raw/us/code/title-07/usc07.xml 724f882e614ef37a1c4e517bab5031ca0d37d08340bc0a6dc6ba9bdff7754068 50edab1679a711653797362c0aeb8f2273303fe473fb7fa16df1ee76bdd6e984 92a9bb760a7887a1cef74d520832ca53079677f5237cc45502e4aeb67ecd5a31 2026-07-04 official
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7 U.S.C. § 940 - Refinancing of rural development loans

Text

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.].

(May 20, 1936, ch. 432, title III, § 310, as added Pub. L. 9332, § 2, May 11, 1973, 87 Stat. 70; amended Pub. L. 103354, title II, § 235(a)(13), Oct. 13, 1994, 108 Stat. 3221.)

Notes

Editorial Notes

References in TextThe Consolidated Farm and Rural Development Act, referred to in text, is title III of Pub. L. 87128, Aug. 8, 1961, 75 Stat. 307, which is classified principally to chapter 50 (§ 1921 et seq.) of this title. For complete classification of the Act to the Code, see Short Title note set out under section 1921 of this title and Tables.

Amendments1994—Pub. L. 103354 substituted “Secretary” for “Administrator”.

Statutory Notes and Related Subsidiaries

Effective DateSection effective May 11, 1973, see section 12 of Pub. L. 9332, set out as a note under section 930 of this title.