12 U.S. Code § 2606 - Exempted transactions

(a) In general
This chapter does not apply to credit transactions involving extensions of credit—
(1) primarily for business, commercial, or agricultural purposes; or
(2) to government or governmental agencies or instrumentalities.
(b) Interpretation
In prescribing regulations under section 2617 (a) of this title, the Bureau shall ensure that, with respect to subsection (a) of this section, the exemption for credit transactions involving extensions of credit primarily for business, commercial, or agricultural purposes, as provided in subsection (a)(1)  [1] of this section shall be the same as the exemption for such credit transactions under section 1603 (1) of title 15.


[1]  See References in Text note below.

Source

(Pub. L. 93–533, § 7, as added Pub. L. 103–325, title III, § 312,Sept. 23, 1994, 108 Stat. 2221; amended Pub. L. 104–208, div. A, title II, § 2103(b),Sept. 30, 1996, 110 Stat. 3009–399; Pub. L. 111–203, title X, § 1098(5),July 21, 2010, 124 Stat. 2104.)
References in Text

Subsection (a)(1) of this section, referred to in subsec. (b), was in the original “section 7(1) of the Real Estate Settlement Procedures Act of 1974”, and was translated as referring to section 7(a)(1) of that Act to reflect the probable intent of Congress.
Prior Provisions

A prior section 2606,Pub. L. 93–533, § 7,Dec. 22, 1974, 88 Stat. 1727, related to seller or his agent confirming that information concerning an existing residence was disclosed to buyer in writing before a commitment for a mortgage loan was made, prior to repeal by Pub. L. 94–205, § 6,Jan. 2, 1976, 89 Stat. 1158.
Amendments

2010–Subsec. (b). Pub. L. 111–203substituted “Bureau” for “Secretary”.
1996—Pub. L. 104–208designated existing provisions as subsec. (a), inserted heading, and added subsec. (b).
Effective Date of 2010 Amendment

Amendment by Pub. L. 111–203effective on the designated transfer date, see section 1100H ofPub. L. 111–203, set out as a note under section 552a of Title 5, Government Organization and Employees.

The table below lists the classification updates, since Jan. 3, 2012, for this section. Updates to a broader range of sections may be found at the update page for containing chapter, title, etc.

The most recent Classification Table update that we have noticed was Tuesday, August 13, 2013

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12 USCDescription of ChangeSession YearPublic LawStatutes at Large

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12 CFR - Banks and Banking

12 CFR Part 4 - ORGANIZATION AND FUNCTIONS, AVAILABILITY AND RELEASE OF INFORMATION, CONTRACTING OUTREACH PROGRAM, POST-EMPLOYMENT RESTRICTIONS FOR SENIOR EXAMINERS

24 CFR - Housing and Urban Development

24 CFR Part 3500 - REAL ESTATE SETTLEMENT PROCEDURES ACT

24 CFR Part 3800 - INVESTIGATIONS IN CONSUMER REGULATORY PROGRAMS

 

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