The smart Trick of 922 loans That Nobody is Discussing

The smart Trick of 922 loans That Nobody is Discussing

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Besides the personal loan extension authority presented in section 912 of the title, the Secretary of Agriculture is licensed to regulate and readjust the schedules for payment of principal and desire on loans to borrowers below applications administered via the Secretary underneath the Rural Electrification Act of 1936 (7 U.

The Secretary, in consultation Together with the Secretary of Agriculture as well as Secretary of the inside, may offer grants beneath this area to qualified grantees for the objective of—

The Secretary may not, to be a affliction of creating a phone bank loan to an applicant therefor, need the applicant to—

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§926. Particular rural development investments by experienced phone borrowers not addressed as dividends or distributions

(b) As applied During this subchapter, the time period "rural space" shall be considered to imply any region of The usa not involved throughout the boundaries of any incorporated or unincorporated town, village, or borough possessing a inhabitants in excessive of 5,000 inhabitants.

(i) The standard profits per kilowatt-hour marketed from the applicant is not really below 120 per cent of the average profits for every kilowatt-hour sold by all utilities during the Condition where the applicant gives services.

(four) payment to the holder of insured notes of any defaulted installment or, upon assignment of the Notice to your Secretary at his request, your entire equilibrium due about the Take note;

The Secretary shall review the bonding prerequisites for all packages administered by the Rural Utilities Service under this chapter to make sure that bonds are not required if—

inserted before time period at conclusion "; and also the expression 'Secretary' shall be considered to mean the Secretary of Agriculture".

included part catchline and text and struck out former textual content which browse as follows: "You can find hereby established and founded an company of America being generally known as the 'Rural Electrification Administration', every one of the powers of which shall be exercised by an Administrator, who shall be appointed through the President, by and with the advice and consent with the Senate, for the term of 10 several years, read more and who shall receive a wage of $10,000 every year. This chapter could possibly be cited because the 'Rural Electrification Act of 1936'."

"(A) contemplate whether the receiver is or would be serving a location which is unserved or has service degrees beneath the minimum amount satisfactory amount of broadband assistance set up under subsection (e); and

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The Secretary shall build a plan, to get known as the "Neighborhood Link Grant Method", to provide grants to suitable entities to finance broadband transmission in rural regions.