7 U.S.C. § 936d — Eligibility of distribution borrowers for loans, loan guarantees, and lien accommodations

FEDERAL · 7 U.S.C. · Chapter SUBCHAPTER III—RURAL ELECTRIC AND TELEPHONE DIRECT LOAN PROGRAMS

Eligibility of distribution borrowers for loans, loan guarantees, and lien accommodations

7 U.S.C. § 936d

ChapterSUBCHAPTER III—RURAL ELECTRIC AND TELEPHONE DIRECT LOAN PROGRAMS

This text of 7 U.S.C. § 936d (Eligibility of distribution borrowers for loans, loan guarantees, and lien accommodations) 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

7 U.S.C. § 936d.

Text

For the purpose of determining the eligibility of a distribution borrower not in default on the repayment of a loan made or guaranteed under this chapter for a loan, loan guarantee, or lien accommodation under this subchapter, a default by a borrower from which the distribution borrower purchases wholesale power shall not—

(1)be considered a default by the distribution borrower;

(2)reduce the eligibility of the distribution borrower for assistance under this chapter; or

(3)be the cause, directly or indirectly, of imposing any requirement or restriction on the borrower as a condition of the assistance, except such requirements or restrictions as are necessary to implement a debt restructuring agreed on by the power supply borrower and the Government.

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For the purpose of determining the eligibility of a distribution borrower not in default on the repayment of a loan made or guaranteed under this chapter for a loan, loan guarantee, or lien accommodation under this subchapter, a default by a borrower from which the distribution borrower purchases wholesale power shall not—
(1) be considered a default by the distribution borrower;
(2) reduce the eligibility of the distribution borrower for assistance under this chapter; or
(3) be the cause, directly or indirectly, of imposing any requirement or restriction on the borrower as a condition of the assistance, except such requirements or restrictions as are necessary to implement a debt restructuring agreed on by the power supply borrower and the Government.

Source Credit

History

(May 20, 1936, ch. 432, title III, §306D, as added Pub. L. 103–129, §2(c)(7), Nov. 1, 1993, 107 Stat. 1364.)

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7 U.S.C. § 936d, Counsel Stack Legal Research, https://law.counselstack.com/usc/7/936d.