Source: https://uscode.house.gov/view.xhtml?req=(title:12%20section:85%20edition:prelim)
Timestamp: 2020-07-04 03:13:26
Document Index: 212150906

Matched Legal Cases: ['§ 85', '§5197', '§25', '§314', '§201', '§101', '§201', '§529', '§5197', '§30', '§1', '§206', '§1', '§529', '§212', '§1', '§213']

[USC02] 12 USC 85: Rate of interest on loans, discounts and purchases
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12 USC 85: Rate of interest on loans, discounts and purchases Text contains those laws in effect on July 2, 2020
(R.S. §5197; June 16, 1933, ch. 89, §25, 48 Stat. 191 ; Aug. 23, 1935, ch. 614, title III, §314, 49 Stat. 711 ; Pub. L. 93–501, title II, §201, Oct. 29, 1974, 88 Stat. 1558 ; Pub. L. 96–104, title I, §101, Nov. 5, 1979, 93 Stat. 789 ; Pub. L. 96–161, title II, §201, Dec. 28, 1979, 93 Stat. 1235 ; Pub. L. 96–221, title V, §529, Mar. 31, 1980, 94 Stat. 168 .)
R.S. §5197 derived from act June 3, 1864, ch. 106, §30, 13 Stat. 108 , which was the National Bank Act. See section 38 of this title.
Section 201 of Pub. L. 93–501, cited as a credit to this section, was repealed by Pub. L. 96–104, §1, Nov. 5, 1979, 93 Stat. 789 . The amendment of this section by that repealed provision, described in the 1974 Amendment note set out under this section, was duplicated in 1979 with identical language under section 101 of Pub. L. 96–104. See 1979 Amendments note below.
1980-Pub. L. 96–221 repealed Pub. L. 96–104 and title II of Pub. L. 96–161, resulting in the striking out of "or in the case of business or agricultural loans in the amount of $25,000 or more, at a rate of 5 per centum in excess of the discount rate on ninety-day commercial paper in effect at the Federal Reserve bank in the Federal Reserve district where the bank is located," before "whichever may be the greater" in two places. See Codification and 1979 Amendment notes under this section.
1979-Pub. L. 96–161 inserted provisions relating to a 5 per centum interest rate on business or agricultural loans in the amount of $25,000 or more that were identical to provisions inserted earlier by Pub. L. 96–104. See Codification note above.
1974-Pub. L. 93–501 substituted "or in the case of business or agricultural loans in the amount of $25,000 or more, at a rate of 5 per centum in excess of the discount rate on ninety-day commercial paper in effect at the Federal Reserve bank in the Federal Reserve district where the bank is located, whichever may be the greater" for "whichever may be the greater" in two places.
1935-Act Aug. 23, 1935, inserted third sentence.
1933-Act June 16, 1933, authorized interest at the alternative rate of 1 per centum in excess of the discount rate on ninety-day commercial paper in effect at the federal reserve bank in the Federal reserve district where the bank is located if greater.
Pub. L. 93–501, title II, §206, Oct. 29, 1974, 88 Stat. 1560 , which provided that amendment by Pub. L. 93–501 applicable to loans made in any state after Oct. 29, 1974, but prior to the earlier of July 1, 1977, or the date (after Oct. 29, 1974) of enactment by the state of a law prohibiting the charging of interest at the rates provided in the amendment of this section, was repealed by Pub. L. 96–104, §1, Nov. 5, 1979, 93 Stat. 789 .
Pub. L. 96–221, title V, §529, Mar. 31, 1980, 94 Stat. 168 , provided in part that, notwithstanding the repeal of Pub. L. 96–104 and title II of Pub. L. 96–161, the provisions added to this section by those repealed laws shall continue to apply to any loan made, any deposit made, or any obligation issued in any State during any period when those provisions were in effect in such State.
Pub. L. 96–161, title II, §212, Dec. 28, 1979, 93 Stat. 1239 , provided in part that, notwithstanding the repeal, effective at the close of Dec. 27, 1979, of Pub. L. 96–104 [which had enacted sections 86a, 371b–1, 1730e, and 1831a of this title, amended sections 85, 1425b, and 1828 of this title and section 687 of Title 15, Commerce and Trade, repealed sections 371b–1, 1730e, and 1831a of this title and notes set out under sections 371b–1 and 1831a of this title, and enacted provisions set out as notes under this section and sections 86a, 371b–1, and 1831a of this title], the amendment which had been made by title I of Pub. L. 96–104 and the provisions of that title would continue to apply to any loan made in any State on or after Nov. 5, 1979, but prior to the repeal of Pub. L. 96–104, and that the amendments made by title II of Pub. L. 96–104 would continue to apply to any deposit made or obligation issued in any State on or after Nov. 5, 1979, but prior to the repeal of Pub. L. 96–104.
Pub. L. 96–104, §1, Nov. 5, 1979, 93 Stat. 789 , provided in part that, notwithstanding the repeal of titles II and III of Pub. L. 93–501 [which had enacted sections 371b–1, 1730e, and 1831a of this title, amended sections 85, 1425b, and 1828 of this title, and section 687 of Title 15, Commerce and Trade, and enacted provisions set out as notes under sections 371b–1 and 1831a of this title], the amendments which had been made by title II of that Act and the provisions of such title would continue to apply to any loan made in any State during the period specified in section 206 of such Act [set out as a note under section 1831a of this title] and that the amendments which had been made by title III of such Act would continue to apply to any deposit made or obligation issued in any State during the period specified in section 304 of such Act [set out as a note under section 371b–1 of this title].
Pub. L. 96–161, title II, §213, Dec. 28, 1979, 93 Stat. 1240 , provided that the provisions of title II of Pub. L. 96–161, which amended this section, repealed provisions which had formerly amended this section, and enacted provisions set out as notes under this section, to continue to apply until July 1, 1981, in the case of any State having a constitutional provision regarding maximum interest rates.