
From the U.S. Code Online via GPO Access
[wais.access.gpo.gov]
[Laws in effect as of January 2, 2001]
[Document not affected by Public Laws enacted between
  January 2, 2001 and January 28, 2002]
[CITE: 12USC86]

 
                       TITLE 12--BANKS AND BANKING
 
                        CHAPTER 2--NATIONAL BANKS
 
SUBCHAPTER IV--REGULATION OF THE BANKING BUSINESS; POWERS AND DUTIES OF 
                             NATIONAL BANKS
 
Sec. 86. Usurious interest; penalty for taking; limitations

    The taking, receiving, reserving, or charging a rate of interest 
greater than is allowed by section 85 of this title, when knowingly 
done, shall be deemed a forfeiture of the entire interest which the 
note, bill, or other evidence of debt carries with it, or which has been 
agreed to be paid thereon. In case the greater rate of interest has been 
paid, the person by whom it has been paid, or his legal representatives, 
may recover back, in an action in the nature of an action of debt, twice 
the amount of the interest thus paid from the association taking or 
receiving the same: Provided, That such action is commenced within two 
years from the time the usurious transaction occurred.

(R.S. Sec. 5198.)

                          Codification

    R.S. Sec. 5198 (less last sentence) derived from act June 3, 1864, 
ch. 106, Sec. 30, 13 Stat. 108, which was the National Bank Act. See 
section 38 of this title.
    Section is based on R.S. Sec. 5198, less last sentence as added by 
act Feb. 18, 1875, ch. 80, Sec. 1, 18 Stat. 320, which is classified to 
section 94 of this title.
