Notes on 15 U.S.C. § 1603 : US Code - Notes

Search Notes on 15 U.S.C. § 1603 : US Code - Notes

(Pub. L. 90-321, title I, Sec. 104, May 29, 1968, 82 Stat. 147;
Pub. L. 93-495, title IV, Sec. 402, Oct. 28, 1974, 88 Stat. 1517;
Pub. L. 96-221, title VI, Sec. 603(c), Mar. 31, 1980, 94 Stat. 169;
Pub. L. 97-320, title VII, Sec. 701(a), Oct. 15, 1982, 96 Stat.
1538; Pub. L. 104-208, div. A, title II, Sec. 2102(a), Sept. 30,
1996, 110 Stat. 3009-398.)
REFERENCES IN TEXT
The Higher Education Act of 1965, referred to in par. (7), is
Pub. L. 89-329, Nov. 8, 1965, 79 Stat. 1219, as amended. Title IV
of the Higher Education Act of 1965 is classified generally to
subchapter IV (Sec. 1070 et seq.) of chapter 28 of Title 20,
Education, and part C (Sec. 2751 et seq.) of subchapter I of
chapter 34 of Title 42, The Public Health and Welfare. For complete
classification of this Act to the Code, see Short Title note set
out under section 1001 of Title 20 and Tables.
AMENDMENTS
1996 - Pars. (5) to (7). Pub. L. 104-208 added par. (5) and
redesignated former pars. (5) and (6) as (6) and (7), respectively.
1982 - Par. (6). Pub. L. 97-320 added par. (6).
1980 - Par. (1). Pub. L. 96-221, Sec. 603(c)(1), inserted
provision relating to applicability to agricultural purposes.
Par. (3). Pub. L. 96-221, Sec. 603(c)(2), substituted provision
excepting security interest in real property, or in personal
property used as the consumer's principal dwelling, for provisions
excepting real property transactions.
Par. (5). Pub. L. 96-221, Sec. 603(c)(3), struck out par. (5)
which related to credit transactions primarily for agricultural
purposes where the amount financed exceeds $25,000.
1974 - Par. (5). Pub. L. 93-495 added par. (5).
EFFECTIVE DATE OF 1982 AMENDMENT
Section 701(c) of Pub. L. 97-320, as amended by Pub. L. 97-457,
Sec. 31, Jan. 12, 1983, 96 Stat. 2511, provided that: "The
amendment made by subsection (a) [amending this section] and
subsection (b) [enacting section 1099 of Title 20, Education] shall
be effective with respect to loans made prior to, on, and after the
date of the enactment of this Act [Oct. 15, 1982]."
EFFECTIVE DATE OF 1980 AMENDMENT
Amendment by Pub. L. 96-221 effective on expiration of two years
and six months after Mar. 31, 1980, with all regulations, forms,
and clauses required to be prescribed to be promulgated at least
one year prior to such effective date, and allowing any creditor to
comply with any amendments, in accordance with the regulations,
forms, and clauses prescribed by the Board prior to such effective
date, see section 625 of Pub. L. 96-221, set out as a note under
section 1602 of this title.
EFFECTIVE DATE OF 1974 AMENDMENT
Amendment by Pub. L. 93-495 effective Oct. 28, 1974, see section
416 of Pub. L. 93-495, set out as an Effective Date note under
section 1665a of this title.
EXCEPTIONS IN AREAS WHERE MAJOR DISASTER EXISTS
Board of Governors of Federal Reserve System authorized to make
exceptions to requirements of this subchapter for transactions
within an area in which the President has determined that a major
disaster exists, if Board determines that exception can reasonably
be expected to alleviate hardships to the public that outweigh
possible adverse effects, see section 2 of Pub. L. 103-76, set out
as a note under section 4008 of Title 12, Banks and Banking.