7 CFR § 1786.55 - Application procedure.

---
identifier: "/us/cfr/t7/s1786.55"
source: "ecfr"
legal_status: "authoritative_unofficial"
title: "7 CFR § 1786.55 - Application procedure."
title_number: 7
title_name: "Agriculture"
section_number: "1786.55"
section_name: "Application procedure."
chapter_name: "RURAL UTILITIES SERVICE, DEPARTMENT OF AGRICULTURE"
part_number: "1786"
part_name: "PREPAYMENT OF RUS GUARANTEED AND INSURED LOANS TO ELECTRIC AND TELEPHONE BORROWERS"
positive_law: false
currency: "2026-03-24"
last_updated: "2026-03-24"
format_version: "1.1.0"
generator: "[email protected]"
authority: "7 U.S.C. 901-950b; Title I, subtitle B, Pub. L. 99-509; Pub. L. 101-624, 104 Stat. 4051; Pub. L. 103-354, 108 Stat. 3178, (7 U.S.C. 6941 ), unless otherwise noted."
regulatory_source: "55 FR 1145, Jan. 11, 1990, unless otherwise noted."
cfr_part: "1786"
---


# 1786.55 Application procedure.

Any borrower seeking to prepay its RUS Notes under this subpart should apply to the appropriate RUS Area Director by submitting:

(a) A board resolution that:

(1) Requests approval of the prepayment of the borrower's outstanding RUS Notes, and

(2) States the intent of the borrower to comply with all eligibility criteria set forth in § 1786.54 of this subpart.

(b) A list of all RUS Notes together with the outstanding amount on such notes.

(c) Such additional information as the Administrator shall request.