Code · STATUTE-COMPILATIONS · safeguard the consumer in connection with the utilization of credit by requiring full disclosure of the terms and conditions of finance charges in credit transactions or in offers to extend credit; by · Sec. 503

Sec. 503. Grammatical usages

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## § 503 Grammatical usages **[**[15 U.S.C. 1602 note](/us/usc/t15/s1602)**]** In this Act: ####

(1)The word “may” is used to indicate that an action either is authorized or is permitted. ####

(2)The word “shall” is used to indicate that an action is both authorized and required. ####

(3)The phrase “may not” is used to indicate that an action is both unauthorized and forbidden. ####

(4)Rules of law are stated in the indicative mood.

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U.S. Code

Definitions and rules of construction
§ 1602

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Sec. 503

Grammatical usages

U.S.C.§ 1602

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