section 912 of this title7 U.S.C. 901In addition to the loan extension authority provided in , the Secretary of Agriculture is authorized to adjust and readjust the schedules for payment of principal and interest on loans to borrowers under programs administered by the Secretary under the Rural Electrification Act of 1936 ( et seq.), and to extend the maturity date of any such loan to a date not beyond forty years from the date of such loan where he determines such action is necessary because of the impairment of the economic feasibility of the system, or the loss, destruction, or damage of the property of such borrowers as a result of a major disaster.
Pub. L. 91–606, title II, § 236(a)84 Stat. 1754Pub. L. 103–354, title II, § 235(b)(1)108 Stat. 3221(, , ; , , .)
Editorial Notes
References in Text
act May 20, 1936, ch. 43249 Stat. 1363section 901 of this titleThe Rural Electrification Act of 1936, referred to in text, is , , which is classified generally to this chapter. For complete classification of this Act to the Code, see and Tables.
Codification
section 4455(a) of Title 42Section was enacted as part of the Disaster Relief Act of 1970, and not as part of the Rural Electrification Act of 1936 which constitutes this chapter. Section was formerly classified to , The Public Health and Welfare.
Amendments
Pub. L. 103–3547 U.S.C. 9011994— substituted “Secretary under the Rural Electrification Act of 1936 ( et seq.)” for “Rural Electrification Administration”.
Statutory Notes and Related Subsidiaries
Effective Date
section 304 of Pub. L. 91–606section 165 of Title 26Section effective , see , set out as an Effective Date of 1970 Amendment note under , Internal Revenue Code.