§ 940b. Use of funds

Legislative history

Reconstructed from this section’s Code source credit and amendment notes, resolved against the local Statutes at Large. Editorial notes are evidence, not the law that made the change.

1. 1936

   Pub. L. 100–203 title I § 1402 · 101 Stat. 1330

   Enacted · 7 U.S.C. § 940b

   May 20, 1936, ch. 432, title III, § 312, as added Pub. L. 100–203, title I, § 1402, Dec. 22, 1987, 101 Stat. 1330–21

   Source evidence

   Code source credit
   May 20, 1936, ch. 432, title III, § 312, as added Pub. L. 100–203, title I, § 1402, Dec. 22, 1987, 101 Stat. 1330–21

   Enacted provision · exact public law section
   SEC. 1402. USE OF FUNDS. The Rural Electrification Act of 1936 is amended by inserting after section 311 (7 U.S.C. 940a) the following new section: “SEC. 312. USE OF FUNDS. “A borrower of an insured or guaranteed electric loan under this Act may, without restriction or prior approval of the Administrator, invest its own funds or make loans or guarantees, not in excess of 15 percent of its total utility plant.”.

2. 1994

   Department of Agriculture Reorganization Act of 1994

   Pub. L. 103–354 title II § 235(a)(13) · 108 Stat. 3178

   Substituted · 7 U.S.C. § 940b

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

   Source evidence

   Code amendment note
   Pub. L. 103–354 substituted “Secretary” for “Administrator”.

   Enacted provision · exact public law section
   (13) except as otherwise provided in this subsection, by striking “Administrator” each place it appears in such Act and inserting “Secretary”.

2 of 2 references resolved to an enrolled provision