§ 918. General prohibitions
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(a)No consideration of borrower’s level of general funds The Secretary shall not deny or reduce any loan or loan advance under this chapter based on a borrower’s level of general funds.
(b)Loan origination fees The Secretary may not charge any fee or charge not expressly provided in this chapter in connection with any loan made or guaranteed under this chapter.
(c)Consultants
(1)In general To facilitate timely action on applications by borrowers for financial assistance under this chapter and for approvals required of the Rural Electrification Administration pursuant to the terms of outstanding loan or security instruments or otherwise, the Secretary may use consultants funded by the borrower, paid for out of the general funds of the borrower, for financial, legal, engineering, and other technical advice and services in connection with the review of the application by the Rural Electrification Administration.
(2)Conflicts of interest The Secretary shall establish procedures for the selection and the provision of technical services by consultants to ensure that the consultants have no financial or other conflicts of interest in the outcome of the application of the borrower.
(3)Payment of costs The Secretary may not, without the consent of the borrower, require, as a condition of processing an application for approval, that the borrower agree to pay the costs, fees, and expenses of consultants hired to provide technical or advisory services to the Secretary.
(4)Contracts, grants, and agreements The Secretary may enter into such contracts, grants, or cooperative agreements as are necessary to carry out this section.
(5)Use of consultants Nothing in this subsection shall limit the authority of the Secretary to retain the services of consultants from funds made available to the Secretary or otherwise.
(May 20, 1936, ch. 432, title I, § 18, as added Pub. L. 101–624, title XXIII, § 2353, Nov. 28, 1990, 104 Stat. 4039; amended Pub. L. 103–129, § 2(c)(4), Nov. 1, 1993, 107 Stat. 1364; Pub. L. 103–354, title II, § 235(a)(13), Oct. 13, 1994, 108 Stat. 3221; Pub. L. 115–334, title VI, § 6602(b)(1), Dec. 20, 2018, 132 Stat. 4776.)
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Cited by 13 sections
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- Public Law 115–334To provide for the reform and continuation of agricultural and other programs of the Department of Agriculture through fiscal year 2023, and for other purposes
- Public Law 101–624To extend and revise agricultural price support and related programs, to provide for agricultural export, resource conservation, farm credit, and agricultural research and related programs, to ensure consumers an abundance of food and fiber at reasonable prices, and for other purposes
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- Sec. 6103Rural utilities service contracting authority
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- Sec. 6602Repeal of Rural Telephone Bank
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10 references not yet in our index
- May 20, 1936, ch. 432
- Pub. L. 101–624, title XXIII, § 2353
- 104 Stat. 4039
- Pub. L. 103–129, § 2(c)(4)
- 107 Stat. 1364
- Pub. L. 103–354, title II, § 235(a)(13)
- 108 Stat. 3221
- 132 Stat. 4776
- Pub. L. 103–354
- Pub. L. 103–129
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§ 918
General prohibitions
Bills×7
Stat. Comp.×2
Stat.×2
Pub. L.×1
Fed. Reg.×1
ActMay 20, 1936, ch. 432
Pub. L.Pub. L. 101–624, title XXIII, § 2353
Stat.104 Stat. 4039
Pub. L.Pub. L. 103–129, § 2(c)(4)
Stat.107 Stat. 1364
Cites 11 · showing 6Cited by 13 across 5 sources