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2026-07-06 09:52:37 -04:00

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LegalText 7 U.S.C. § 912a Rescheduling and refinancing of loans us united_states_code code_section 7 AGRICULTURE 31 RURAL ELECTRIFICATION AND TELEPHONE SERVICE 912a 7 U.S.C. § 912a 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/s912a data/legal/raw/us/code/title-07/usc07.xml 5a01163f2d7e6a3e7cf3379ca719358b9b26f2a4952f5928fbffcbaf139f91bb 50edab1679a711653797362c0aeb8f2273303fe473fb7fa16df1ee76bdd6e984 e47e9ef4cf33d52fe19cff13398e6af5c329bed539b0cf7ab2c481b8923cacba 2026-07-04 official
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7 U.S.C. § 912a - Rescheduling and refinancing of loans

Text

In addition to the loan extension authority provided in section 912 of this title, the Secretary of Agriculture is authorized to adjust and readjust the schedules for payment of principal and interest on loans to borrowers under programs administered by the Secretary under the Rural Electrification Act of 1936 (7 U.S.C. 901 et seq.), and to extend the maturity date of any such loan to a date not beyond forty years from the date of such loan where he determines such action is necessary because of the impairment of the economic feasibility of the system, or the loss, destruction, or damage of the property of such borrowers as a result of a major disaster.

(Pub. L. 91606, title II, § 236(a), Dec. 31, 1970, 84 Stat. 1754; Pub. L. 103354, title II, § 235(b)(1), Oct. 13, 1994, 108 Stat. 3221.)

Notes

Editorial Notes

References in TextThe Rural Electrification Act of 1936, referred to in text, is act May 20, 1936, ch. 432, 49 Stat. 1363, which is classified generally to this chapter. For complete classification of this Act to the Code, see section 901 of this title and Tables.

Codification Section was enacted as part of the Disaster Relief Act of 1970, and not as part of the Rural Electrification Act of 1936 which constitutes this chapter. Section was formerly classified to section 4455(a) of Title 42, The Public Health and Welfare.

Amendments1994—Pub. L. 103354 substituted “Secretary under the Rural Electrification Act of 1936 (7 U.S.C. 901 et seq.)” for “Rural Electrification Administration”.

Statutory Notes and Related Subsidiaries

Effective DateSection effective Dec. 31, 1970, see section 304 of Pub. L. 91606, set out as an Effective Date of 1970 Amendment note under section 165 of Title 26, Internal Revenue Code.