[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: 7CFR1735.14]

[Page 307-308]
 
                          TITLE 7--AGRICULTURE
 
    CHAPTER XVII--RURAL UTILITIES SERVICE, DEPARTMENT OF AGRICULTURE
 
PART 1735--GENERAL POLICIES, TYPES OF LOANS, LOAN REQUIREMENTS--TELECOMMUNICATIONS PROGRAM--Table of Contents
 
               Subpart B--Loan Purposes and Basic Policies
 
Sec. 1735.14  Borrower eligibility.

    (a) RUS makes loans to:

[[Page 308]]

    (1) Entities providing, or who may hereafter provide, telephone 
service in rural areas;
    (2) Public bodies providing telephone service in rural areas as of 
October 28, 1949; and
    (3) Cooperative, nonprofit, limited dividend or mutual associations.
    (b) RUS does not make loans to individuals.
    (c) RUS gives preference to those borrowers (including initial loan 
applicants) already providing telephone service in rural areas, and to 
cooperative, nonprofit, limited dividend, or mutual associations. To be 
eligible for a loan, a borrower:
    (1) Must have sufficient authority to carryout the purposes of the 
RE Act; and
    (2) Must be incorporated or a limited liability company.

[58 FR 66253, Dec. 20, 1993, as amended at 64 FR 50429, Sept. 17, 1999; 
65 FR 42619, July 11, 2000]