The Secretary may not, as a condition of making a telephone loan to an applicant therefor, require the applicant to—

1. (1) increase the rates charged to the applicant’s customers or subscribers; or

2. (2) increase the applicant’s ratio of—

   1. (A) net income or margins before interest; to
   2. (B) the interest requirements on all of the applicant’s outstanding and proposed loans.

(May 20, 1936, ch. 432, title II, § 204, as added Pub. L. 101–624, title XXIII, § 2355, Nov. 28, 1990, 104 Stat. 4039; amended Pub. L. 103–354, title II, § 235(a)(13), Oct. 13, 1994, 108 Stat. 3221; Pub. L. 115–334, title VI, § 6602(b)(2), Dec. 20, 2018, 132 Stat. 4776.)

Editorial Notes

Amendments

2018—Pub. L. 115–334 struck out “and the Governor of the telephone bank” after “The Secretary” in introductory provisions.

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