2018—Pub. L. 115–334, § 6702(2), which directed substitution of “certifies” for “centifies” in sixth sentence, could not be executed because the word “centifies” did not appear.

Pub. L. 115–334, § 6702(1), which directed substitution of “widest” for “wildest” in third sentence, could not be executed because the word “wildest” did not appear.

Pub. L. 115–334, § 6502, inserted section catchline and substituted “associations.” for “associations: And provided further, That for a period of one year from and after October 28, 1949, applications for loans received by the Secretary from persons who on October 28, 1949, are engaged in the operation of existing telephone service in rural areas shall be considered and acted upon before action is taken upon any application received from any other person for any loan to finance the furnishing or improvement of telephone service to substantially the same subscribers.” in second sentence and “and that no duplication” for “, nor shall such loan be made in any State which now has or may hereafter have a State regulatory body having authority to regulate telephone service and to require certificates of convenience and necessity to the applicant unless such certificate from such agency is first obtained. In a State in which there is no such agency or regulatory body legally authorized to issue such certificates to the applicant, no loan shall be made under this section unless the Secretary shall determine (and set forth his reasons therefor in writing) that no duplication” in last sentence.

Pub. L. 115–334, § 6211, substituted “furnishing telephone service in rural areas, including indebtedness of recipients on another telecommunications loan made under this chapter.” for “furnishing telephone service in rural areas: Provided, That such refinancing shall be determined by the Secretary to be necessary in order to furnish and improve telephone service in rural areas: And provided further, That such refinancing shall constitute not more than 40 per centum of any loan made under this subchapter.”

1994—Pub. L. 103–354 substituted “Secretary” for “Administrator” wherever appearing.

1971—Pub. L. 92–12 inserted “, to public bodies now providing telephone service in rural areas” after “areas” in first sentence and after “areas” in first proviso of second sentence.

Amendment by Pub. L. 92–12 effective May 7, 1971, see section 7 of Pub. L. 92–12, set out as an Effective Date note under section 931 of this title.