It is hereby declared to be the policy of the Congress that the growing capital needs of the rural telephone systems require the establishment of a rural telephone bank which will furnish assured and viable sources of supplementary financing with the objective that said bank will become an entirely privately owned, operated, and financed corporation. The Congress further finds that many rural telephone systems require financing under the terms and conditions provided in this subchapter.
The last sentence of section 1 ofPub. L. 92–12provided that: “In order to effectuate this policy, the Rural Electrification Act of 1936, as amended (7 U.S.C. 921–924), is amended as hereinafter provided.”
Section was not enacted as part of title II of the Rural Electrification Act of 1936 which comprises this subchapter.
Reservation of Right To Repeal, Alter, or Amend Pub. L. 92–12
Pub. L. 92–12, § 6,May 14, 1971, 85 Stat. 37, provided that: “The right to repeal, alter, or amend this Act [enacting sections
950b of this title, amending sections
922 of this title and sections 856 and 868 of former Title 31, and enacting provisions set out as notes under sections 856 and 868 of former Title 31] is expressly reserved.”
The table below lists the classification updates, since Jan. 3, 2012, for this section. Updates to a broader range of sections may be found at the update page for containing chapter, title, etc.
The most recent Classification Table update that we have noticed was Tuesday, August 13, 2013
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