BORROWERS TO DETERMINE AMORTIZATION PERIOD FOR RURAL TELEPHONE BANK LOANS.

SEC. 2366. BORROWERS TO DETERMINE AMORTIZATION PERIOD FOR RURAL TELEPHONE BANK LOANS. Section 408 (7 U.S.C. 948) is amended by adding at the end the following new subsection: “(d) (1) Except as provided in paragraph (2), the term of any loan made under this title shall be determined by the borrower at the time the application for the loan is submitted. “(2) The term of any loan made under this title shall not exceed the maximum term for which a loan may be made under section 4.”.