12 U.S.C. § 2606 — Exempted transactions
submitted 32 years ago by Pub. L. 93-533 to r/title-12-BANKS-AND-BANKING · 100 words · no verdicts yet
This chapter does not apply to credit mainly for business, commercial, or agricultural purposes, or to credit for government entities. The Bureau must make the first exemption match the corresponding exemption under the cited law.
(a) In general This chapter does not apply to credit* transactions involving extensions of credit— (1) primarily for business, commercial, or agricultural purposes; or (2) to government or governmental agencies or instrumentalities. (b) Interpretation In prescribing regulations under section 2617(a) of this title, the Bureau* must ensure that, with respect to subsection (a) of this section, the exemption for credit transactions involving extensions of credit primarily for business, commercial, or agricultural purposes, as provided in subsection (a)(1) 1 of this section must be the same as the exemption for that credit transactions under section 1603(1) of title 15.
This chapter does not apply to credit* transactions involving extensions of credit—
primarily for business, commercial, or agricultural purposes; or
to government or governmental agencies or instrumentalities.
In prescribing regulations under section 2617(a) of this title, the Bureau* shall ensure that, with respect to subsection (a) of this section, the exemption for credit transactions involving extensions of credit primarily for business, commercial, or agricultural purposes, as provided in subsection (a)(1) 1 of this section shall be the same as the exemption for such credit transactions under section 1603(1) of title 15.
Source credit: (Pub. L. 93–533, § 7, as added Pub. L. 103–325, title III, § 312, Sept. 23, 1994, 108 Stat. 2221; amended Pub. L. 104–208, div. A, title II, § 2103(b), Sept. 30, 1996, 110 Stat. 3009–399; Pub. L. 111–203, title X, § 1098(5), July 21, 2010, 124 Stat. 2104.)
- 1994Enacted · Pub. L. 93-533 · 108 Stat. 2221
- 1996Amended · Pub. L. 104-208 · 110 Stat. 3009
- 2010Amended · Pub. L. 111-203 · 124 Stat. 2104
A history note hasn’t been published yet. The record shows enactment by Pub. L. 93-533 on 1994-09-23.
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