2014 US Code
Title 12 - Banks and Banking (Sections 1 - 5710)
Chapter 27 - Real Estate Settlement Procedures (Sections 2601 - 2617)
Sec. 2606 - Exempted transactions
| Publication Title | United States Code, 2012 Edition, Supplement 2, 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 | 2014 |
| Laws In Effect As Of Date | January 5, 2015 |
| 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; Pub. L. 111-203, title X, §1098(5), July 21, 2010, 124 Stat. 2104. |
| Statutes at Large References | 88 Stat. 1727 89 Stat. 1158 108 Stat. 2221 110 Stat. 3009-399 124 Stat. 2104 |
| Public and Private Laws | Public Law 93-533, Public Law 94-205, Public Law 103-325, Public Law 104-208, Public Law 111-203 |
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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 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.
(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 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.
AMENDMENTS2010–Subsec. (b). Pub. L. 111–203 substituted "Bureau" for "Secretary".
1996—Pub. L. 104–208 designated existing provisions as subsec. (a), inserted heading, and added subsec. (b).
EFFECTIVE DATE OF 2010 AMENDMENTAmendment by Pub. L. 111–203 effective on the designated transfer date, see section 1100H of Pub. L. 111–203, set out as a note under section 552a of Title 5, Government Organization and Employees.
1 See References in Text note below.
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