42 U.S.C. § 291j–4 — Payment of interest on guaranteed loans

FEDERAL · 42 U.S.C. · Chapter 6A

Payment of interest on guaranteed loans

42 U.S.C. § 291j–4

Title42 — The Public Health and Welfare

Chapter6A — PUBLIC HEALTH SERVICE

SubchapterIV

PartB

Current throughPub. L. 119-99

This text of 42 U.S.C. § 291j–4 (Payment of interest on guaranteed loans) is published on Counsel Stack Legal Research, covering United States primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

42 U.S.C. § 291j–4.

Text

(a)Subject to the provisions of subsection (b), in the case of a guarantee of any loan to a nonprofit private agency under this part with respect to a hospital or other medical facility, the Secretary shall pay, to the holder of such loan and for and on behalf of such hospital or other medical facility amounts sufficient to reduce by 3 per centum per annum the net effective interest rate otherwise payable on such loan. Each holder of a loan, to a nonprofit private agency, which is guaranteed under this part shall have a contractual right to receive from the United States interest payments required by the preceding sentence.

(b)Contracts to make the payments provided for in this section shall not carry an aggregate amount greater than such amount as may be provided in appropriations Acts.

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(a) Subject to the provisions of subsection (b), in the case of a guarantee of any loan to a nonprofit private agency under this part with respect to a hospital or other medical facility, the Secretary shall pay, to the holder of such loan and for and on behalf of such hospital or other medical facility amounts sufficient to reduce by 3 per centum per annum the net effective interest rate otherwise payable on such loan. Each holder of a loan, to a nonprofit private agency, which is guaranteed under this part shall have a contractual right to receive from the United States interest payments required by the preceding sentence.
(b) Contracts to make the payments provided for in this section shall not carry an aggregate amount greater than such amount as may be provided in appropriations Acts.

Source Credit

History

(July 1, 1944, ch. 373, title VI, §624, as added Pub. L. 91–296, title II, §201, June 30, 1970, 84 Stat. 347.)

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Bluebook (online)

42 U.S.C. § 291j–4, Counsel Stack Legal Research, https://law.counselstack.com/usc/42/291j–4.