---
kind: "section"
citation: "7 U.S.C. § 912a"
title: "7"
title_heading: "Agriculture"
number: "912a"
heading: "Rescheduling and refinancing of loans"
release: "119-102"
date: "2026-07-12"
url: "https://uscodex.org/usc/7/912a"
units:
  - "Chapter 31 — Rural Electrification and Telephone Service"
  - "Subchapter I — Rural Electrification"
---

# §912a. Rescheduling and refinancing of loans


In addition to the loan extension authority provided in [section 912 of this title](/usc/7/912.md), the [Secretary](/usc/7/913.md?p=5) of Agriculture is authorized to adjust and readjust the schedules for payment of principal and interest on loans to borrowers under programs administered by the [Secretary](/usc/7/913.md?p=5) under the Rural Electrification Act of 1936 ([7 U.S.C. 901](/usc/7/901.md) et seq.), and to extend the maturity date of any such loan to a date not beyond forty years from the date of such loan where he determines such action is necessary because of the impairment of the economic feasibility of the system, or the loss, destruction, or damage of the property of such borrowers as a result of a major disaster.


## Source credit

(Pub. L. 91–606, title II, § 236(a), Dec. 31, 1970, 84 Stat. 1754; Pub. L. 103–354, title II, § 235(b)(1), Oct. 13, 1994, 108 Stat. 3221.)

## Notes

### Editorial Notes

### References in Text

The Rural Electrification Act of 1936, referred to in text, is act May 20, 1936, ch. 432, 49 Stat. 1363, which is classified generally to this chapter. For complete classification of this Act to the Code, see section 901 of this title and Tables.

### Codification

Section was enacted as part of the Disaster Relief Act of 1970, and not as part of the Rural Electrification Act of 1936 which constitutes this chapter. Section was formerly classified to section 4455(a) of Title 42, The Public Health and Welfare.

### Amendments

1994—Pub. L. 103–354 substituted “Secretary under the Rural Electrification Act of 1936 (7 U.S.C. 901 et seq.)” for “Rural Electrification Administration”.

### Statutory Notes and Related Subsidiaries

### Effective Date

Section effective Dec. 31, 1970, see section 304 of Pub. L. 91–606, set out as an Effective Date of 1970 Amendment note under section 165 of Title 26, Internal Revenue Code.