
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: 7USC937]

 
                          TITLE 7--AGRICULTURE
 
         CHAPTER 31--RURAL ELECTRIFICATION AND TELEPHONE SERVICE
 
    SUBCHAPTER III--RURAL ELECTRIC AND TELEPHONE DIRECT LOAN PROGRAMS
 
Sec. 937. Loans from other credit sources

    When it appears to the Secretary that the loan applicant is able to 
obtain a loan for part of his credit needs from a responsible 
cooperative or other credit source at reasonable rates and terms 
consistent with the loan applicant's ability to pay and the achievement 
of this chapter's objectives, he may request the loan applicant to apply 
for and accept such a loan concurrently with an insured loan, subject, 
however, to full use being made by the Secretary of the funds made 
available hereunder for such insured loans under this subchapter. The 
Secretary may not request any applicant for an electric loan under this 
chapter to apply for and accept a loan in an amount exceeding 30 percent 
of the credit needs of the applicant.

(May 20, 1936, ch. 432, title III, Sec. 307, as added Pub. L. 93-32, 
Sec. 2, May 11, 1973, 87 Stat. 70; amended Pub. L. 97-35, title I, 
Sec. 165(c), Aug. 13, 1981, 95 Stat. 379; Pub. L. 103-129, Sec. 2(c)(8), 
Nov. 1, 1993, 107 Stat. 1365; Pub. L. 103-354, title II, 
Sec. 235(a)(13), Oct. 13, 1994, 108 Stat. 3221.)


                               Amendments

    1994--Pub. L. 103-354 substituted ``Secretary'' for 
``Administrator'' wherever appearing.
    1993--Pub. L. 103-129 inserted at end ``The Administrator may not 
request any applicant for an electric loan under this chapter to apply 
for and accept a loan in an amount exceeding 30 percent of the credit 
needs of the applicant.''
    1981--Pub. L. 97-35 substituted ``an insured loan'' for ``a loan 
insured at the standard rate''.


                             Effective Date

    Section effective May 11, 1973, see section 12 of Pub. L. 93-32, set 
out as a note under section 930 of this title.

                  Section Referred to in Other Sections

    This section is referred to in section 939 of this title.
