U.S. Code » Title 7 » Chapter CHAPTER 31— RURAL ELECTRIFICATION AND TELEPHONE SERVICE › Subchapter SUBCHAPTER I— RURAL ELECTRIFICATION

7 U.S.C. § 907

Acquisition of property pledged for loans; disposition; sale of pledged property by borrower

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The Secretary is authorized and empowered to bid for and purchase at any foreclosure or other sale, or otherwise to acquire, property pledged or mortgaged to secure any loan made pursuant to this chapter; to pay the purchase price and any costs and expenses incurred in connection therewith from the sums authorized in section 903 of this title; to accept title to any property so purchased or acquired in the name of the United States of America; to operate or lease such property for such period as may be deemed necessary or advisable to protect the investment therein, but not to exceed five years after the acquisition thereof; and to sell such property so purchased or acquired, upon such terms and for such consideration as the Secretary shall determine to be reasonable.

No borrower of funds under sections 904 or 922 of this title shall, without the approval of the Secretary, sell or dispose of its property, rights, or franchises, acquired under the provisions of this chapter, until any loan obtained from the Rural Electrification Administration, including all interest and charges, shall have been repaid.

Notes of Decisions
Cited in 17 cases, 1966–2009 · leading case: City of Morgan City v. South Louisiana Elec., 837 F. Supp. 194 (W.D. La. 1993).
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City of Morgan City v. South Louisiana Elec., 837 F. Supp. 194 (W.D. La. 1993). · cites it 10× “Cajun then filed with this Court on June 5,1991 an amended petition of intervention, alleging noncompliance with 7 U.S.C. § 907 with this Court on June 5, 1991.”
Tennessee Ex Rel. City of Cookville v. Upper Cumberland Elec. Membership Corp., 256 F. Supp. 2d 754 (M.D. Tenn. 2003). · cites it 3× “As to the actual legal dispute, UCEMC argues that the proposed taking by Cooke-ville would frustrate the purposes of the Rural Electrification Act of 1936 (“REA”), 7 U.”
United States v. Rural Elec. Convenience Coop. Co., 922 F.2d 429 (7th Cir. 1991). “Section 7,' 7 U.S.C. § 907 , states that no REA borrower may, without approval of the REA Administrator, "sell or dispose of its property rights or franchises acquired under the provisions of this chapter, until any loan obtained from the [REA] .”
Tri-Cnty. Elec. Ass'n, Inc. v. City of Gillette, 525 P.2d 3 (Wyo. 1974). “in and to the certificate of convenience and necessity as suggested by 7 U.S.C.A. § 907 , p. 645. It is to be realized that this is a summary statement of major questions which will involve consideration of other collateral and related matters necessary for a complete disposal…”
City of Morgan City v. South Louisiana Elec. Coop. Ass'n, 31 F.3d 319 (5th Cir. 1994). · cites it 2× “The court based its ruling on two conclusions: (1) the Administrator’s determination that the expropriation would be contrary to the federal rural electrification program was not arbitrary and capricious; and (2) the REAct, 7 U.”
Pub. Util. Dist. No. 1 of Pend Oreille Cnty. v. United States of Am., Inland Power & Light Co., 417 F.2d 200 (9th Cir. 1969). ““No borrower of funds under sections 904 or 922 of this title shall, without the approval of the Administrator, sell or dispose of its property, rights, or franchises, acquired under the provisions of this chapter, until any loan obtained from the Rural Electrification…”
Montara Water & Sanitary Dist. v. Cnty. of San Mateo, 598 F. Supp. 2d 1070 (N.D. Cal. 2009). · cites it 2× “7 U.S.C. § 907 (emphasis added). While § 907 is silent as to the REA’s authority to block an involuntary “s[ale] or disposal of .”
City of Colorado Springs v. Mountain View Elec. Ass'n, 925 P.2d 1378 (Colo. Ct. App. 1996). “Under the federal Rural Electrification Act (REAct), a cooperative public utility that has borrowed funds from the Rural Utility Services (RUS)(formerly the Rural Electrification Administration (REA)) must receive permission from the RUS before it can sell or dispose of its…”
Tri-State Generation & Transmission Ass'n v. Shoshone River Power, Inc., 874 F.2d 1346 (10th Cir. 1989). “We agree with the district court that the plain language of 7 U.S.C. § 907 (1982) does not require Shoshone to obtain REA approval prior to selling its assets when its direct debts to REA are repaid.”
City of Fairbanks v. Elec. Distrib. Sys. in Island Homes Subdivision of Fairbanks, 413 P.2d 165 (Alaska 1966). “1365 (1936), 7 U.S.C.A. § 907 (1964). 7 . United States v.”
Rural Elec. Convenience Coop. Co. v. Soyland Power Coop., Inc., 606 N.E.2d 1269 (Ill. App. Ct. 1992). “” 7 U.S.C. §907 (1988). RECC recognizes that the pleadings show it is indebted to REA but points out that the pleadings do not indicate what the proceeds of the loans were used for.”
City of Huntingburg v. Fed. Power Comm'n, 498 F.2d 778 (D.C. Cir. 1974). “7 U.S.C. §907 (1970). . The REA designated Statewide as its agent for operation of the system.”
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