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 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, § 4Pub. L. 96–592, title IV, § 40394 Stat. 3446Pub. L. 99–205, title II, § 205(f)(6)99 Stat. 1706Pub. L. 99–509, title I, § 1035100 Stat. 1878Pub. L. 100–399, title IX, § 901(h)102 Stat. 1007Pub. L. 115–334, title V, § 5411(24)132 Stat. 4682(.17, as added , , ; amended , , ; , , ; , , ; , , .)
Editorial Notes
Amendments
Pub. L. 115–3342018— struck out “Federal intermediate credit banks and” before “Farm Credit Banks”.
Pub. L. 100–399section 2074 of this title1988— substituted “and Farm Credit Banks” for “pursuant to ”.
Pub. L. 99–509section 2252(a)(5) of this title1986— 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 , 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.”
Pub. L. 99–205section 2252(a)(5) of this title1985— inserted “, as provided in ,” after “with the approval of” in first sentence.
Statutory Notes and Related Subsidiaries
Effective Date of 1988 Amendment
Pub. L. 100–399section 401 of Pub. L. 100–233section 1001(b) of Pub. L. 100–399section 2002 of this titleAmendment by effective immediately after amendment made by , which was effective 6 months after , see , set out as a note under .
Effective Date of 1985 Amendment
Pub. L. 99–205section 401 of Pub. L. 99–205section 2001 of this titleAmendment by effective thirty days after , see , set out as a note under .