Sec. 506. Treatment under the Servicemembers Civil Relief Act
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/bill/118/s/136/is/section-506·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 207 of the Servicemembers Civil Relief Act ( 50 U.S.C. 3937 ) is amended— in subsection (d)— by redesignating paragraphs
(1)and
(2)as paragraphs
(2)and (3), respectively; and by inserting before paragraph (2), as redesignated by subparagraph (A), the following new paragraph: The term educational income share agreement has the meaning given the term educational ISA in section 2 of the ISA Student Protection Act of 2023 . ; by redesignating subsections
(d)and
(e)as subsections
(e)and (f), respectively; and by inserting before subsection (e), as redesignated by paragraph (2), the following new subsection (d): An educational income share agreement shall be considered to be in compliance with the requirements of subsection
(a)if such agreement is compliant with the requirements of section 102(b) of the ISA Student Protection Act of 2023 . In carrying out paragraph
(1)of this subsection, the interest rate referred to in section 102(b) of such Act shall be deemed to be the rate of interest specified in subsection
(a)of this section. .
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Sec. 506
Treatment under the Servicemembers Civil Relief Act
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