§ 940b. Use of funds

Type Statute

Publication 2025-12-03

State In force

Department United States Congress

Source OLRC

§ 940b. Use of funds

A borrower of an insured or guaranteed electric loan under this chapter may, without restriction or prior approval of the Secretary, invest its own funds or make loans or guarantees, not in excess of 15 percent of its total utility plant.

(May 20, 1936, ch. 432, title III, § 312, as added Pub. L. 100–203, title I, § 1402, Dec. 22, 1987, 101 Stat. 1330–21; amended Pub. L. 103–354, title II, § 235(a)(13), Oct. 13, 1994, 108 Stat. 3221.)

Editorial Notes

Amendments

1994—Pub. L. 103–354 substituted “Secretary” for “Administrator”.

This document does not substitute reading the official United States Code published by the Office of the Law Revision Counsel. We assume no responsibility for any inaccuracies resulting from the conversion to this format.