7 U.S.C. § 940b
Use of funds
A borrower of an insured or guaranteed electric loan under this chapter may, without restriction or prior approval of the Secretary, invest its own funds or make loans or guarantees, not in excess of 15 percent of its total utility plant.
Notes of Decisions
Cited in 2
cases, 1999–2002 · leading case: Tallahatchie Valley Elec. Power Ass'n v. MISS. PROPANE GAS Ass'n, INC., 812 So. 2d 912 (Miss. 2002).
Tallahatchie Valley Elec. Power Ass'n v. MISS. PROPANE GAS Ass'n, INC., 812 So. 2d 912 (Miss. 2002). “In 1987, responding to this limitation Congress amended the REAct adding 7 U.S.C. § 940b which allowed borrowers under the REA loan program to "invest its own funds or make loans or guarantees not in excess of 15 percent of its total utility plant for `non-Act' purposes.”
Tallahatchie Valley Elec. Power Ass'n v. Mississippi Propane Gas Ass'n, Inc. (Miss. 1999). “In 1987, responding to this limitation Congress amended the REAct adding 7 U.S.C. § 940b which allowed borrowers under the REA loan program to "invest its own funds or make loans or guarantees not in excess of 15 percent of its total utility plant for 'non-Act' purposes.”
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