---
kind: "section"
citation: "7 U.S.C. § 938"
title: "7"
title_heading: "Agriculture"
number: "938"
heading: "Full faith and credit of the United States"
release: "119-102"
date: "2026-07-12"
url: "https://uscodex.org/usc/7/938"
units:
  - "Chapter 31 — Rural Electrification and Telephone Service"
  - "Subchapter III — Rural Electric and Telephone Direct Loan Programs"
---

# §938. Full faith and credit of the United States


Any contract of insurance or guarantee executed by the [Secretary](/usc/7/913.md?p=5) under this subchapter shall be an obligation supported by the full faith and credit of the United States and incontestable except for fraud or misrepresentation of which the holder had actual knowledge at the time it became a holder.


## Source credit

(May 20, 1936, ch. 432, title III, § 308, as added Pub. L. 93–32, § 2, May 11, 1973, 87 Stat. 70; amended Pub. L. 94–124, § 2, Nov. 4, 1975, 89 Stat. 677; Pub. L. 103–354, title II, § 235(a)(13), Oct. 13, 1994, 108 Stat. 3221.)

## Notes

### Editorial Notes

### Amendments

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

1975—Pub. L. 94–124 substituted “of which the holder had actual knowledge at the time it became a holder” for “of which the holder has actual knowledge”.

### Statutory Notes and Related Subsidiaries

### Effective Date

Section effective May 11, 1973, see section 12 of Pub. L. 93–32, set out as a note under section 930 of this title.