2001 US Code
Title 12 - BANKS AND BANKING
CHAPTER 27 - REAL ESTATE SETTLEMENT PROCEDURES
Sec. 2606 - Exempted transactions
View MetadataPublication Title | United States Code, 2000 Edition, Supplement 1, Title 12 - BANKS AND BANKING |
Category | Bills and Statutes |
Collection | United States Code |
SuDoc Class Number | Y 1.2/5: |
Contained Within | Title 12 - BANKS AND BANKING CHAPTER 27 - REAL ESTATE SETTLEMENT PROCEDURES Sec. 2606 - Exempted transactions |
Contains | section 2606 |
Date | 2001 |
Laws in Effect as of Date | January 22, 2002 |
Positive Law | No |
Disposition | standard |
Source Credit | 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. |
Statutes at Large References | 88 Stat. 1727 89 Stat. 1158 108 Stat. 2221 110 Stat. 3009-399 |
Public Law References | Public Law 93-533, Public Law 94-205, Public Law 103-325, Public Law 104-208 |
§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) InterpretationIn prescribing regulations under section 2617(a) of this title, the Secretary 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.
(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.)
References in TextSubsection (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 ProvisionsA 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.
Amendments1996—Pub. L. 104–208 designated existing provisions as subsec. (a), inserted heading, and added subsec. (b).
1 See References in Text note below.
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