15 USC 690d - Debentures

U.S Code last checked for updates: May 04, 2024

§ 690d.

Debentures

(a)

In general

(b)

Terms and conditions

The Administrator may make guarantees under this section on such terms and conditions as it determines appropriate, except that—

(1)

the term of any debenture guaranteed under this section shall not exceed 15 years; and

(2)

a debenture guaranteed under this section—

(A)

shall carry no front-end or annual fees;

(B)

shall be issued at a discount;

(C)

shall require no interest payments during the 5-year period beginning on the date the debenture is issued;

(D)

shall be prepayable without penalty after the end of the 1-year period beginning on the date the debenture is issued; and

(E)

shall require semiannual interest payments after the period described in subparagraph (C).

(c)

Full faith and credit of the United States

(d)

Maximum guarantee

(1)

In general

(2)

Treatment of certain Federal funds

(Pub. L. 85–699, title III, § 385, as added Pub. L. 110–140, title XII, § 1207, Dec. 19, 2007, 121 Stat. 1778.)

cite as: 15 USC 690d