Code of Federal Regulations (Last Updated: May 6, 2024) |
Title 7 - Agriculture |
Subtitle B - Regulations of the Department of Agriculture |
Chapter XVII - Rural Utilities Service, Department of Agriculture |
Part 1786 - Prepayment of RUS Guaranteed and Insured Loans to Electric and Telephone Borrowers |
Subpart F - Discounted Prepayments on RUS Electric Loans |
§ 1786.159 - Initial closing.
Latest version.
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§ 1786.159 Initial closing.
(a) Upon receipt of the prepayment agreement, the borrower may submit, pursuant to the terms of the prepayment agreement, a closing request which shall request a closing date no less than 30 business days from the date of the request.
(b) The Government will respond to the borrower's closing request by delivering a preclosing notice to the borrower not less than 10 business days prior to the date which the Government, after reviewing the borrower's closing request, selects as a closing date.