[Code of Federal Regulations]
[Title 7, Volume 11]
[Revised as of January 1, 2003]
From the U.S. Government Printing Office via GPO Access
[CITE: 7CFR1730.25]

[Page 299]
 
                          TITLE 7--AGRICULTURE
 
    CHAPTER XVII--RURAL UTILITIES SERVICE, DEPARTMENT OF AGRICULTURE
 
PART 1730--ELECTRIC SYSTEM OPERATIONS AND MAINTENANCE--Table of Contents
 
           Subpart B--Operations and Maintenance Requirements
 
Sec. 1730.25  Corrective action.

    (a) For any items on the RUS Form 300 rated unsatisfactory (i.e., 0 
or 1) by the borrower or by RUS, the borrower shall prepare a corrective 
action plan (CAP) outlining the steps (both short term and long term) 
the borrower will take to improve existing conditions and to maintain an 
acceptable rating. The CAP must include a time schedule and cost 
estimate for corrective actions, and must be approved by the borrower's 
Board of Directors. The CAP must be submitted to RUS for approval within 
90 days after the completion of RUS' evaluation noted in Sec. 1730.24.
    (b) The borrower must periodically report to RUS in writing progress 
under the CAP. This report must be submitted to RUS every six months 
until all unsatisfactory items are corrected unless RUS prescribes a 
different reporting schedule.