
From the U.S. Code Online via GPO Access
[wais.access.gpo.gov]
[Laws in effect as of January 2, 2001]
[Document not affected by Public Laws enacted between
  January 2, 2001 and January 28, 2002]
[CITE: 7USC921a]

 
                          TITLE 7--AGRICULTURE
 
         CHAPTER 31--RURAL ELECTRIFICATION AND TELEPHONE SERVICE
 
                 SUBCHAPTER II--RURAL TELEPHONE SERVICE
 
Sec. 921a. Policy of financing of rural telephone program

    It is hereby declared to be the policy of the Congress that the 
growing capital needs of the rural telephone systems require the 
establishment of a rural telephone bank which will furnish assured and 
viable sources of supplementary financing with the objective that said 
bank will become an entirely privately owned, operated, and financed 
corporation. The Congress further finds that many rural telephone 
systems require financing under the terms and conditions provided in 
this subchapter.

(Pub. L. 92-12, Sec. 1, May 7, 1971, 85 Stat. 29.)

                          Codification

    The last sentence of section 1 of Pub. L. 92-12 provided that: ``In 
order to effectuate this policy, the Rural Electrification Act of 1936, 
as amended (7 U.S.C. 921-924), is amended as hereinafter provided.''
    Section was not enacted as part of title II of the Rural 
Electrification Act of 1936 which comprises this subchapter.


                             Effective Date

    Section 7 of Pub. L. 92-12 provided that: ``This Act [enacting 
sections 921a, 931, 932, and 941 to 950b of this title and amending 
sections 903(f) and 922 of this title] shall take effect upon enactment 
[May 7, 1971].''


      Reservation of Right To Repeal, Alter, or Amend Pub. L. 92-12

    Section 6 of Pub. L. 92-12 provided that: ``The right to repeal, 
alter, or amend this Act [enacting sections 921a, 931, 932, and 941 to 
950b of this title, amending sections 903 and 922 of this title and 
sections 856 and 868 of former Title 31, and enacting provisions set out 
as notes under sections 856 and 868 of former Title 31] is expressly 
reserved.''
