GroundRules
7 CFR 1710.605: Rescission of loans.
Where this section sits in the code
- Title 7—Agriculture
- Subtitle B—Regulations of the Department of Agriculture
- CHAPTER XVII—RURAL UTILITIES SERVICE, DEPARTMENT OF AGRICULTURE
- PART 1710—GENERAL AND PRE-LOAN POLICIES AND PROCEDURES COMMON TO ELECTRIC LOANS AND GUARANTEES
- Subpart J—Terms of Loans Common to Electric Loans and Guarantees
(a) A borrower may request rescission of a loan with respect to any funds unadvanced by submitting a letter signed by the General Manager, Board President or other individual authorized by the Board of Directors to request such rescission.
(b) RUS may rescind loans pursuant to § 1710.602(c).
(c) Borrowers who prepay RUS loans at a discounted present value pursuant to subpart F of 7 CFR part 1786 are required to rescind the unadvanced balance of all outstanding electric notes pursuant to 7 CFR 1786.158(j).
Collected 2026-08-27T02:24:01Z. Source file · JSON