7 CFR 1717.354 : Agriculture (§ 1.1 To Parts 4291-4299) — (§ 1600.1 To Part 1757) — Regulations Of The Department Of Agriculture (Continued) (§ 1600.1 To Part 1757) — Rural Utilities Service, Department Of Agriculture (§ 1700.1 To Part 1757) — Post-Loan Policies And Procedures Common To Insured And Guaranteed Electric Loans (Subparts A-C To § 1717.1208) — Federal Pre-Emption In Rate Making In Connection With Rus Electric Borrowers In Bankruptcy (§ 1717.350 To § 1717.356) — Pre-emption.

State Regulatory Authority jurisdiction over an RUS borrower's rates shall be pre-empted by the RE Act and RUS shall have exclusive jurisdiction over the borrower's rates:

(a) On October 19, 1990, with respect to any borrower by or against whom a case under the Bankruptcy Code of 1978, as amended, was commenced prior to and remains outstanding on October 19, 1990; and

(b) With respect to all other borrowers, upon the filing of a petition by or against the borrower commencing a case under the Bankruptcy Code of 1978, as amended.