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Code of Federal Regulations Title 7. Agriculture § 7.1724.1 Introduction

Current as of October 02, 2022 | Updated by FindLaw Staff

(a) The policies, procedures and requirements in this part implement certain provisions of the standard form of loan documents between the Rural Utilities Service (RUS) and its electric borrowers.

(b) All borrowers, regardless of the source of financing, shall comply with RUS' requirements with respect to design, construction standards, and the use of RUS accepted material on their electric systems.

(c) Borrowers are required to use RUS contract forms only if the facilities are financed by RUS. Borrowers have three options:

(1) Submit the actual contract used for review and approval;

(2) Submit a certification that the required contract was used for the electric project or;

(3) Submit a certification that the contract was not used but the essential and identical provisions specifically listed in the certification were used in the contract for constructing the electric facilities.

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Cite this article: FindLaw.com - Code of Federal Regulations Title 7. Agriculture § 7.1724.1 Introduction - last updated October 02, 2022 | https://codes.findlaw.com/cfr/title-7-agriculture/cfr-sect-7-1724-1/

Read this complete Code of Federal Regulations Title 7. Agriculture § 7.1724.1 Introduction on Westlaw

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