38 USC 3728 - Exemption from State anti-usury provisions
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Sec. 3728. Exemption from State anti-usury provisions
If, under any law of the United States, loans and mortgages insured under title I or title II of the National Housing Act are exempt from the application of the provisions of any State constitution or law
(1) limiting the rate or amount of interest, discount points, or other charges which may be charged, taken, received, or reserved by lenders,
(2) restricting the manner of calculating such interest (including prohibition of the charging of interest on interest), or
(3) requiring a minimum amortization of principal, then loans guaranteed or insured under this chapter are also exempt from the application of such provisions.
Sections: 3713 3714 3720 3721 3722 3726 3727 3728 3729 3730 3731 3732 3733 3734 3736
Last modified: July 21, 2011
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