7 CFR 1710.605
§ 1710.605 Rescission of loans.
United States · 7 CFR — Agriculture · Status: effective
Cite this
- Citation
- 7 CFR 1710.605, § 1710.605 Rescission of loans, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/26988
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Full text
(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).
Legislative history
This is a federal regulation, adopted through agency rulemaking under the Administrative Procedure Act — not enacted by a recorded vote of Congress.