Us Code § 937 - Loans from other credit sources
Full text of Us Code United States Code § 937 — Loans from other credit sources, with citation guidance and answers to common questions.
§ 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, §307, as added Pub. L. 93–32, §2, May 11, 1973, 87 Stat. 70; amended Pub. L. 97–35, title I, §165(c), Aug. 13, 1981, 95 Stat. 379; Pub. L. 103–129, §2(c)(8), Nov. 1, 1993, 107 Stat. 1365; Pub. L. 103–354, title II, §235(a)(13), Oct. 13, 1994, 108 Stat. 3221.)
Editorial Notes
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".
Statutory Notes and Related Subsidiaries
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.
About This Section
7 U.S.C. § 937 is part of Title 7 of the United States Code. The United States Code is the official codification of federal statutes maintained by the Office of the Law Revision Counsel of the U.S. House of Representatives. Congress amends the Code through new public laws, which are eventually incorporated into the relevant title.
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