
From the U.S. Code Online via GPO Access
[wais.access.gpo.gov]
[Laws in effect as of January 23, 2000]
[Document not affected by Public Laws enacted between
  January 23, 2000 and December 4, 2001]
[CITE: 38USC3728]

 
                      TITLE 38--VETERANS' BENEFITS
 
               PART III--READJUSTMENT AND RELATED BENEFITS
 
              CHAPTER 37--HOUSING AND SMALL BUSINESS LOANS
 
                SUBCHAPTER III--ADMINISTRATIVE PROVISIONS
 
Sec. 3728. Exemption from State anti-usury provisions

    If, under any law of the United States, loans and mortgages insured 
under title I or title II of the National Housing Act are exempt from 
the application of the provisions of any State constitution or law (1) 
limiting the rate or amount of interest, discount points, or other 
charges which may be charged, taken, received, or reserved by lenders, 
(2) restricting the manner of calculating such interest (including 
prohibition of the charging of interest on interest), or (3) requiring a 
minimum amortization of principal, then loans guaranteed or insured 
under this chapter are also exempt from the application of such 
provisions.

(Added Pub. L. 96-128, title IV, Sec. 401(a), Nov. 28, 1979, 93 Stat. 
986, Sec. 1828; amended Pub. L. 97-66, title V, Sec. 501(b), Oct. 17, 
1981, 95 Stat. 1032; renumbered Sec. 3728, Pub. L. 102-83, Sec. 5(a), 
Aug. 6, 1991, 105 Stat. 406.)

                       References in Text

    The National Housing Act, referred to in text, is act June 27, 1934, 
ch. 847, 48 Stat. 1246, as amended. Titles I and II of the Act are 
classified generally to subchapters I (Sec. 1702 et seq.) and II 
(Sec. 1707 et seq.), respectively, of chapter 13 of Title 12, Banks and 
Banking. For complete classification of this Act to the Code, see 
section 1701 of Title 12 and Tables.


                               Amendments

    1991--Pub. L. 102-83 renumbered section 1828 of this title as this 
section.
    1981--Pub. L. 97-66 designated as cl. (1) existing provisions 
relating to the limiting of rates or amounts of interest, discount 
points, or other charges which may be charged, taken, received, or 
reserved by lenders, and added cls. (2) and (3).


                    Effective Date of 1981 Amendment

    Amendment by Pub. L. 97-66 effective Oct. 17, 1981, see section 
701(b)(1) of Pub. L. 97-66, set out as a note under section 1114 of this 
title.


                             Effective Date

    Section effective Nov. 28, 1979, see section 601(b) of Pub. L. 96-
128, set out as an Effective Date of 1979 Amendment note under section 
1114 of this title.
