15 U.S.C. § 636b | Disaster loan interest rates

1 See References in Text note below.

1 1 1Any loan made under section 636a  of this title and section 4452  of title 42 shall not exceed the current cost of repairing or replacing the disaster injury, loss, or damage in conformity with current codes and specifications. Any loan made under sections 636a  and 636d of this title, and sections 3538 and 4452  of title 42 shall bear interest at a rate determined by the Secretary of the Treasury, taking into consideration the current average market yield on outstanding marketable obligations of the United States with remaining periods to maturity of ten to twelve years reduced by not to exceed 2 per centum per annum. In no event shall any loan made under this section bear interest at a rate in excess of 6 per centum per annum.

Pub. L. 91–606, title II, § 234Dec. 31, 197084 Stat. 1754(, , .)

Editorial Notes

References in Text

Section 636a of this title Pub. L. 97–35, title XIX, § 1917Aug. 13, 198195 Stat. 781, referred to in text, was repealed by , , .

Section 4452 of title 42 Pub. L. 93–24, § 7Apr. 20, 197387 Stat. 25, referred to in text, was repealed by , , .

Codification

section 4453 of Title 42Section was enacted as part of the Disaster Relief Act of 1970, and not as part of the Small Business Act which comprises this chapter. Section was formerly classified to , The Public Health and Welfare.

Statutory Notes and Related Subsidiaries

Effective Date

Dec. 31, 1970section 304 of Pub. L. 91–606 section 165 of Title 26Section effective , see , set out as an Effective Date of 1970 Amendment note under , Internal Revenue Code.