
From the U.S. Code Online via GPO Access
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[Laws in effect as of January 2, 2001]
[Document not affected by Public Laws enacted between
  January 2, 2001 and January 28, 2002]
[CITE: 7USC927]

 
                          TITLE 7--AGRICULTURE
 
         CHAPTER 31--RURAL ELECTRIFICATION AND TELEPHONE SERVICE
 
                 SUBCHAPTER II--RURAL TELEPHONE SERVICE
 
Sec. 927. General duties and prohibitions


(a) Duties

    The Secretary and the Governor of the telephone bank shall--
        (1) notwithstanding section 553(a)(2) of title 5, cause to be 
    published in the Federal Register, in accordance with subsections 
    (b) through (e) of section 553 of such title, all rules, 
    regulations, bulletins, and other written policy standards governing 
    the operations of the telephone loan and loan guarantee programs 
    administered under this chapter other than those relating to agency 
    management and personnel;
        (2) 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;

        (3) annually determine and publish the average described in 
    paragraph (2)(B); and
        (4) make loans for all purposes for which telephone loans are 
    authorized under section 922 or 948 of this title, to the extent of 
    qualifying applications therefor.

(b) Prohibitions

    The Secretary and the Governor of the telephone bank shall not--
        (1) rescind an insured telephone loan, or a Rural Telephone Bank 
    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, the 
    Rural Telephone Bank, 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, Sec. 206, as added Pub. L. 101-624, 
title XXIII, Sec. 2357, Nov. 28, 1990, 104 Stat. 4040; amended Pub. L. 
103-354, title II, Sec. 235(a)(7), (13), Oct. 13, 1994, 108 Stat. 3221.)


                               Amendments

    1994--Pub. L. 103-354 substituted ``Secretary'' for 
``Administrator'' in subsecs. (a) and (b) and ``Secretary'' for ``Rural 
Electrification Administration'' in subsec. (b)(2).
