7 U.S.C. § 940h

Current through P.L. 118-107 (published on www.congress.gov on 11/21/2024)

Section 940h - Bonding requirements

The Secretary shall review the bonding requirements for all programs administered by the Rural Utilities Service under this chapter to ensure that bonds are not required if-

(1) the interests of the Secretary are adequately protected by product warranties; or

(2) the costs or conditions associated with a bond exceed the benefit of the bond.

7 U.S.C. § 940h

May 20, 1936, ch. 432, title III, §318, as added Pub. L. 110-234, title VI, §61096109,, 122 Stat. 1198, and Pub. L. 110-246, §4(a), title VI, §6109, June 18, 2008, 122 Stat. 1664, 1960.

EDITORIAL NOTES

CODIFICATION Pub. L. 110-234 and Pub. L. 110-246 enacted identical sections. Pub. L. 110-234 was repealed by section 4(a) of Pub. L. 110-246.

STATUTORY NOTES AND RELATED SUBSIDIARIES

EFFECTIVE DATEEnactment of this section and repeal of Pub. L. 110-234 by Pub. L. 110-246 effective May 22, 2008, the date of enactment of Pub. L. 110-234 see section 4 of Pub. L. 110-246 set out as a note under section 8701 of this title.

Secretary

The term "Secretary" means the Secretary of Agriculture.