republic-os/legal/us/code/title-07/chapter-31/section-927.md

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LegalText	7 U.S.C. § 927	General duties and prohibitions	us	united_states_code	code_section	7	AGRICULTURE	31	RURAL ELECTRIFICATION AND TELEPHONE SERVICE	927	7 U.S.C. § 927	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/s927	data/legal/raw/us/code/title-07/usc07.xml	ad2095e88ef048e51703f3cdcf94036e3adbd98bfa706a719db4c591ecf83586	50edab1679a711653797362c0aeb8f2273303fe473fb7fa16df1ee76bdd6e984	d53859d224cc2ba0024df5225a7d7032667593484dd1ab60a59d10b69f4509fc	2026-07-04	official	legal us-code

7 U.S.C. § 927 - General duties and prohibitions

Text

(a) Duties The Secretary shall—

(1) in evaluating the feasibility of a telephone loan to be made to a borrower for telephone services, use—

(A) with respect to items for which the regulatory authority with jurisdiction over the provision of such services has approved the depreciation rates used by the borrower, such approved rates; and

(B) with respect to other items, the average of the depreciation rates used by borrowers of telephone loans made under this chapter;

(2) annually determine and publish the average described in paragraph (2)(B); and

(3) make loans for all purposes for which telephone loans are authorized under section 922 of this title, to the extent of qualifying applications therefor.

(b) Prohibitions The Secretary shall not—

(1) rescind an insured telephone loan made under this chapter without the consent of the borrower, unless all of the purposes for which telephone loans have been made to the borrower under this chapter have been accomplished with funds provided under this chapter;

(2) regulate the order or sequence of advances of funds under telephone loans made under this chapter to any borrower who has received any combination of telephone loans from the Secretary or the Federal Financing Bank; or

(3) deny a loan or advance to, or take any other adverse action against, an applicant for, or a borrower of, a telephone loan under this chapter for any reason that is not based on a rule, regulation, bulletin, or other written policy standard that has not been published pursuant to section 553 of title 5.

(May 20, 1936, ch. 432, title II, § 206, as added Pub. L. 101–624, title XXIII, § 2357, Nov. 28, 1990, 104 Stat. 4040; amended Pub. L. 103–354, title II, § 235(a)(7), (13), Oct. 13, 1994, 108 Stat. 3221; Pub. L. 115–334, title VI, § 6602(b)(4), (5), Dec. 20, 2018, 132 Stat. 4776.)

Notes

Editorial Notes

Amendments2018—Subsec. (a). Pub. L. 115–334, § 6602(b)(4)(A), struck out “and the Governor of the telephone bank” after “The Secretary” in introductory provisions. Subsec. (a)(1), (2). Pub. L. 115–334, § 602(b)(4)(B), (D), redesignated pars. (2) and (3) as (1) and (2), respectively, and struck out par. (1) which read as follows: “notwithstanding section 553(a)(2) of title 5, cause to be published in the Federal Register, in accordance with subsections (b) through (e) of section 553 of such title, all rules, regulations, bulletins, and other written policy standards governing the operations of the telephone loan and loan guarantee programs administered under this chapter other than those relating to agency management and personnel;”. Subsec. (a)(3), (4). Pub. L. 115–334, § 6602(b)(4)(C), (D), redesignated par. (4) as (3) and struck out “or 948” after “section 922”. Former par. (3) redesignated (2). Subsec. (b). Pub. L. 115–334, § 6602(b)(5)(A), struck out “and the Governor of the telephone bank” after “The Secretary” in introductory provisions. Subsec. (b)(1). Pub. L. 115–334, § 6602(b)(5)(B), struck out “, or a Rural Telephone Bank loan,” after “an insured telephone loan”. Subsec. (b)(2). Pub. L. 115–334, § 6602(b)(5)(C), struck out “, the Rural Telephone Bank,” after “from the Secretary”. 1994—Pub. L. 103–354 substituted “Secretary” for “Administrator” in subsecs. (a) and (b) and “Secretary” for “Rural Electrification Administration” in subsec. (b)(2).