38 U.S. Code § 3728 - Exemption from State anti-usury provisions

If, under any law of the United States, loans and mortgages insured under title I or title II of the National Housing Act are exempt from the application of the provisions of any State constitution or law
(1) limiting the rate or amount of interest, discount points, or other charges which may be charged, taken, received, or reserved by lenders,
(2) restricting the manner of calculating such interest (including prohibition of the charging of interest on interest), or
(3) requiring a minimum amortization of principal, then loans guaranteed or insured under this chapter are also exempt from the application of such provisions.


(Added Pub. L. 96–128, title IV, § 401(a),Nov. 28, 1979, 93 Stat. 986, § 1828; amended Pub. L. 97–66, title V, § 501(b),Oct. 17, 1981, 95 Stat. 1032; renumbered § 3728,Pub. L. 102–83, § 5(a),Aug. 6, 1991, 105 Stat. 406.)
References in Text

The National Housing Act, referred to in text, is act June 27, 1934, ch. 847, 48 Stat. 1246, as amended. Titles I and II of the Act are classified generally to subchapters I (§ 1702 et seq.) and II (§ 1707 et seq.), respectively, of chapter 13 of Title 12, Banks and Banking. For complete classification of this Act to the Code, see section 1701 of Title 12 and Tables.

1991—Pub. L. 102–83renumbered section 1828 of this title as this section.
1981—Pub. L. 97–66designated as cl. (1) existing provisions relating to the limiting of rates or amounts of interest, discount points, or other charges which may be charged, taken, received, or reserved by lenders, and added cls. (2) and (3).
Effective Date of 1981 Amendment

Amendment by Pub. L. 97–66effective Oct. 17, 1981, see section 701(b)(1) ofPub. L. 97–66, set out as a note under section 1114 of this title.
Effective Date

Section effective Nov. 28, 1979, see section 601(b) ofPub. L. 96–128, set out as an Effective Date of 1979 Amendment note under section 1114 of this title.

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

An empty table indicates that we see no relevant changes listed in the classification tables. If you suspect that our system may be missing something, please double-check with the Office of the Law Revision Counsel.

38 USCDescription of ChangeSession YearPublic LawStatutes at Large


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