§ 927. General duties and prohibitions
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/usc/title-7/section-927A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(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.)
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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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- May 20, 1936, ch. 432
- Pub. L. 101–624, title XXIII, § 2357
- 104 Stat. 4040
- Pub. L. 103–354, title II, § 235(a)(7)
- 108 Stat. 3221
- 132 Stat. 4776
- Pub. L. 103–354
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§ 927
General duties and prohibitions
Bills×10
Stat. Comp.×3
Stat.×3
Pub. L.×2
ActMay 20, 1936, ch. 432
Pub. L.Pub. L. 101–624, title XXIII, § 2357
Stat.104 Stat. 4040
Pub. L.Pub. L. 103–354, title II, § 235(a)(7)
Stat.108 Stat. 3221
Cites 10 · showing 8Cited by 18 across 4 sources