12-U.S.C.-2205
§2205 – Interest Rates
Pathway
Title 12 > Chapter 23 > Subchapter IV > Part D > Section 2205
Details
- Reference: Section 2205
- Legend: §2205 – Interest Rates
- USCode Year: 2013
Provision Content
Interest rates on loans from institutions of the Farm Credit System shall not be subject to any interest rate limitation imposed by any State constitution or statute or other laws. Such limitation is preempted for purposes of this chapter. Interest rates on loans made by agricultural credit corporations organized in conjunction with cooperative associations for the purpose of financing the ordinary crop operations of the members of such associations or other producers and eligible to discount with the Federal intermediate credit banks and Farm Credit Banks shall be exempt from any interest rate limitation imposed by any State constitution or statute or other laws which are hereby preempted for purposes of this chapter.
(Pub. L. 92–181, title IV, §4.17, as added Pub. L. 96–592, title IV, §403, Dec. 24, 1980, 94 Stat. 3446; amended Pub. L. 99–205, title II, §205(f)(6), Dec. 23, 1985, 99 Stat. 1706; Pub. L. 99–509, title I, §1035, Oct. 21, 1986, 100 Stat. 1878; Pub. L. 100–399, title IX, §901(h), Aug. 17, 1988, 102 Stat. 1007.)
Amendments
1988—Pub. L. 100–399 substituted and Farm Credit Banks for pursuant to section 2074 of this title.
1986—Pub. L. 99–509 substituted first two sentences for former first sentence which read as follows: Interest rates on loans from institutions of the Farm Credit System shall be determined with the approval of, as provided in section 2252(a)(5) of this title, the Farm Credit Administration as provided in this chapter, notwithstanding any interest rate limitation imposed by any State constitution or statute or other laws which are hereby preempted for purposes of this chapter.
1985—Pub. L. 99–205 inserted , as provided in section 2252(a)(5) of this title, after with the approval of in first sentence.
Effective Date of 1988 Amendment
Amendment by Pub. L. 100–399 effective immediately after amendment made by section 401 of Pub. L. 100–233, which was effective 6 months after Jan. 6, 1988, see section 1001(b) of Pub. L. 100–399, set out as a note under section 2002 of this title.
Effective Date of 1985 Amendment
Amendment by Pub. L. 99–205 effective thirty days after Dec. 23, 1985, see section 401 of Pub. L. 99–205, set out as a note under section 2001 of this title.
U.S. Encyclopedia of Law Coverage
Part C – Rights of Borrowers; Loan Restructuring in the Legal Encyclopedia: Banking Law
In this entry about Part C – Rights of Borrowers; Loan Restructuring, find legal reference material, bibliographies and premiere content related to banking law in the American Encyclopedia of Law, presenting a comprehensive view of the United States banking law-specific issues, written by authorities in the field.
12-U.S.C.-2202C in the Legal Encyclopedia: Farm Credit System
In this entry about 12-U.S.C.-2202C, find legal reference material, bibliographies and premiere content related to farm credit system in the American Encyclopedia of Law, presenting a comprehensive view of the United States farm credit system-specific issues, written by authorities in the field.
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