2020 US Code
Title 12 - Banks and Banking
Chapter 23 - Farm Credit System
Subchapter IV - Provisions Applicable to Two or More Classes of Institutions of the System
Part D - Activities of Institutions of the System
Sec. 2205 - Interest rates
12 U.S.C. § 2205 (2020) |
§2205. Interest rates |
Interest rates on loans from institutions of the Farm Credit System shall not be subject to any interest rate limitation imposed by any State constitution or statute or other laws. Such limitation is preempted for purposes of this chapter. Interest rates on loans made by agricultural credit corporations organized in conjunction with cooperative associations for the purpose of financing the ordinary crop operations of the members of such associations or other producers and eligible to discount with the Farm Credit Banks shall be exempt from any interest rate limitation imposed by any State constitution or statute or other laws which are hereby preempted for purposes of this chapter. |
(Pub. L. 92–181, title IV, §4.17, as added Pub. L. 96–592, title IV, §403, Dec. 24, 1980, 94 Stat. 3446; amended Pub. L. 99–205, title II, §205(f)(6), Dec. 23, 1985, 99 Stat. 1706; Pub. L. 99–509, title I, §1035, Oct. 21, 1986, 100 Stat. 1878; Pub. L. 100–399, title IX, §901(h), Aug. 17, 1988, 102 Stat. 1007; Pub. L. 115–334, title V, §5411(24), Dec. 20, 2018, 132 Stat. 4682.) |
EDITORIAL NOTES
AMENDMENTS
2018—Pub. L. 115–334 struck out "Federal intermediate credit banks and" before "Farm Credit Banks". 1988—Pub. L. 100–399 substituted "and Farm Credit Banks" for "pursuant to section 2074 of this title". 1986—Pub. L. 99–509 substituted first two sentences for former first sentence which read as follows: "Interest rates on loans from institutions of the Farm Credit System shall be determined with the approval of, as provided in section 2252(a)(5) of this title, the Farm Credit Administration as provided in this chapter, notwithstanding any interest rate limitation imposed by any State constitution or statute or other laws which are hereby preempted for purposes of this chapter." 1985—Pub. L. 99–205 inserted ", as provided in section 2252(a)(5) of this title," after "with the approval of" in first sentence. STATUTORY NOTES AND RELATED SUBSIDIARIES EFFECTIVE DATE OF 1988 AMENDMENT Amendment by Pub. L. 100–399 effective immediately after amendment made by section 401 of Pub. L. 100–233, which was effective 6 months after Jan. 6, 1988, see section 1001(b) of Pub. L. 100–399, set out as a note under section 2002 of this title. EFFECTIVE DATE OF 1985 AMENDMENTAmendment by Pub. L. 99–205 effective thirty days after Dec. 23, 1985, see section 401 of Pub. L. 99–205, set out as a note under section 2001 of this title. |
United States Code, 2018 Edition, Supplement 2, Title 12 - BANKS AND BANKING |
Bills and Statutes |
United States Code |
Y 1.2/5: |
Title 12 - BANKS AND BANKING CHAPTER 23 - FARM CREDIT SYSTEM SUBCHAPTER IV - PROVISIONS APPLICABLE TO TWO OR MORE CLASSES OF INSTITUTIONS OF THE SYSTEM Part D - Activities of Institutions of the System Sec. 2205 - Interest rates |
section 2205 |
2020 |
January 13, 2021 |
No |
standard |
94 Stat. 3446 99 Stat. 1706 100 Stat. 1878 102 Stat. 1007 132 Stat. 4682 |
Public Law 92-181, Public Law 96-592, Public Law 99-205, Public Law 99-509, Public Law 100-233, Public Law 100-399, Public Law 115-334 |