FEDERAL · 7 U.S.C. · Chapter SUBCHAPTER VIII—RURAL BUSINESS INVESTMENT PROGRAM
§2009cc–4. Debentures
7 U.S.C. § §2009cc–4. Debentures
Title7 — Agriculture
ChapterSUBCHAPTER VIII—RURAL BUSINESS INVESTMENT PROGRAM
This text of 7 U.S.C. § §2009cc–4. Debentures (§2009cc–4. Debentures) 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.
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7 U.S.C. § §2009cc–4. Debentures.
Text
(a)In general
The Secretary may guarantee the timely payment of principal and interest, as scheduled, on debentures issued by any rural business investment company.
(b)Terms and conditions
The Secretary may make guarantees under this section on such terms and conditions as the Secretary considers appropriate, except that the term of any debenture guaranteed under this section shall not exceed 15 years.
(c)Full faith and credit of the United States
Section 2009g(i) of this title shall apply to any guarantee under this section.
(d)Maximum guarantee
Under this section, the Secretary may—
(1)guarantee the debentures issued by a rural business investment company only to the extent that the total face amount of outstanding guaranteed debentures of the rural business investment company does
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Related
§ 2009g
7 U.S.C. § 2009g
Source Credit
History
(Pub. L. 87–128, title III, §384E, as added Pub. L. 107–171, title VI, §6029, May 13, 2002, 116 Stat. 393.)
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