§ 636b. — Disaster loan interest rates.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 15USC636b]
TITLE 15--COMMERCE AND TRADE
CHAPTER 14A--AID TO SMALL BUSINESS
Sec. 636b. Disaster loan interest rates
Any loan made under section 636a \1\ of this title and section 4452
\1\ of title 42 shall not exceed the current cost of repairing or
replacing the disaster injury, loss, or damage in conformity with
current codes and specifications. Any loan made under sections 636a \1\
and 636d of this title, and sections 3538 and 4452 \1\ of title 42 shall
bear interest at a rate determined by the Secretary of the Treasury,
taking into consideration the current average market yield on
outstanding marketable obligations of the United States with remaining
periods to maturity of ten to twelve years reduced by not to exceed 2
per centum per annum. In no event shall any loan made under this section
bear interest at a rate in excess of 6 per centum per annum.
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\1\ See References in Text note below.
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(Pub. L. 91-606, title II, Sec. 234, Dec. 31, 1970, 84 Stat. 1754.)
References in Text
Section 636a of this title, referred to in text, was repealed by
Pub. L. 97-35, title XIX, Sec. 1917, Aug. 13, 1981, 95 Stat. 781.
Section 4452 of title 42, referred to in text, was repealed by Pub.
L. 93-24, Sec. 7, Apr. 20, 1973, 87 Stat. 25.
Codification
Section was enacted as part of the Disaster Relief Act of 1970, and
not as part of the Small Business Act which comprises this chapter.
Section was formerly classified to section 4453 of Title 42, The Public
Health and Welfare.
Effective Date
Section effective Dec. 31, 1970, see section 304 of Pub. L. 91-606,
set out as an Effective Date of 1970 Amendment note under section 165 of
Title 26, Internal Revenue Code.
Section Referred to in Other Sections
This section is referred to in section 636d of this title.
