§ 1730e. Repealed. Pub. L. 96–221, title V, § 529, Mar. 31, 1980, 94 Stat. 168
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Section, act June 27, 1934, ch. 847, title IV, § 412, as added Dec. 28, 1979, Pub. L. 96–161, title II, § 203, 93 Stat. 1236, provided that if the applicable rate prescribed in this section exceeded the rate an insured institution would be permitted to charge in the absence of this section, then such institution could, for a business or agricultural loan of $25,000 or more, notwithstanding State law, take or charge on any evidence of debt, interest of not more than 5 per centum in excess of the discount rate in effect at the Federal Reserve bank in the district in which the institution was located, that the taking or charging of interest at a greater rate than that prescribed by this section, if knowingly done, would be deemed a forfeit of the entire interest on that particular evidence of debt, and that if such greater rate of interest had already been paid, the payor could recover twice the amount of such payment in a civil action commenced within two years of such payment.
See section 1730g of this title.
A prior section 1730e, act June 27, 1934, ch. 847, § 412, as added Nov. 5, 1979, Pub. L. 96–104, title I, § 103, 93 Stat. 790, identical to this section as added by Pub. L. 96–161, was repealed by section 212 of Pub. L. 96–161, effective at the close of Dec. 27, 1979, except that its provisions would continue to apply to any loan made in any State on or after Nov. 5, 1979, but prior to such repeal.
A prior section 1730e, act June 27, 1934, ch. 847, § 412, as added Oct. 29, 1974, Pub. L. 93–501, title II, § 203, 88 Stat. 1559, identical to this section as added by Pub. L. 96–104, was repealed by section 1 of Pub. L. 96–104 except that its provisions shall continue to apply to any loan made in any State during the period specified in section 206 of Pub. L. 93–501.
Connections2 cite this
Cited by 2 sections
statutes-at-large
- Public Law 96–104To authorize on a temporary basis certain business and agricultural loans, notwithstanding interest limitations in State constitutions or statutes, and for other purposes
- Public Law 96–161To authorize automatic transfer accounts at commercial banks, remote service units at Federal savings and loan associations, and share draft accounts at Federal credit unions during the period beginning on December 31, 1979, and ending on April 1, 1980
16 references not yet in our index
- act June 27, 1934, ch. 847, title IV, § 412
- Pub. L. 96–161, title II, § 203
- 93 Stat. 1236
- section 1730g of this title
- act June 27, 1934, ch. 847, § 412
- Pub. L. 96–104, title I, § 103
- 93 Stat. 790
- Pub. L. 96–161
- section 212 of Pub. L. 96–161
- Pub. L. 93–501, title II, § 203
- 88 Stat. 1559
- Pub. L. 96–104
- section 1 of Pub. L. 96–104
- section 206 of Pub. L. 93–501
- Pub. L. 96–221, title V, § 529
- 94 Stat. 168
Citation graph
cites case law
§ 1730e
Repealed. Pub. L. 96–221, title V, § 529, Mar. 31, 1980, 94 Stat. 168
Stat.×2
Actact June 27, 1934, ch. 847, title IV, § 412
Pub. L.Pub. L. 96–161, title II, § 203
Stat.93 Stat. 1236
Citesection 1730g of this title
Actact June 27, 1934, ch. 847, § 412
Cites 16 · showing 5Cited by 2 across 1 source