act June 27, 1934, ch. 847, title IV, § 412Pub. L. 96–161, title II, § 20393 Stat. 1236section 1730g of this titleSection, , as added , , , 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 .
act June 27, 1934, ch. 847, § 412Pub. L. 96–104, title I, § 10393 Stat. 790Pub. L. 96–161section 212 of Pub. L. 96–161A prior section 1730e, , as added , , , identical to this section as added by , was repealed by , effective at the close of , except that its provisions would continue to apply to any loan made in any State on or after , but prior to such repeal.
act June 27, 1934, ch. 847, § 412Pub. L. 93–501, title II, § 20388 Stat. 1559Pub. L. 96–104section 1 of Pub. L. 96–104section 206 of Pub. L. 93–501A prior section 1730e, , as added , , , identical to this section as added by , was repealed by except that its provisions shall continue to apply to any loan made in any State during the period specified in .
Statutory Notes and Related Subsidiaries
Effective Date of Repeal
Pub. L. 96–221, title V, § 52994 Stat. 168, , , provided that the repeal of this section is effective at close of .
Savings Provision
Pub. L. 96–221, title V, § 52994 Stat. 168Pub. L. 96–104Pub. L. 96–161, , , provided that, notwithstanding the repeal of and title II of , this section [which had been enacted by those laws] shall continue to apply to any loan made, any deposit made, or any obligation issued in any State during any period when this section was in effect in such State.