Exempted transactions

12 U.S.C. § 2606
in effect
Sign in to generate a plain English summaryAsk Belisarius Agent
(a) In generalThis 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) 11 See References in Text note below. of this section shall be the same as the exemption for such credit transactions under section 1603(1) of title 15.

Starting a business? Corpus forms LLCs in all 50 states and DC.