The law › Title 12, Banks and Banking › Chapter 13

12 U.S.C. 1701j-3: Preemption of due-on-sale prohibitions

Created in 1982 by Public Law 97-320. Changed by 1 later law. No bill we track in this Congress changes it.

3 parts of federal rules cite it as their authority, written by Comptroller of the Currency, Department of the Treasury (3).

How it got hereLaws that created or changed it, newest first

1983Pub. L. 98-181

1982Pub. L. 97-320created it

12 U.S.C. 1701j-3Preemption of due-on-sale prohibitions

(a)Definitions

(b)Loan contract and terms governing execution or enforcement of due-on-sale options and rights and remedies of lenders and borrowers; assumptions of loan rates

(c)State prohibitions applicable for prescribed period; subsection (b) provisions applicable upon expiration of such period; loans subject to State and Federal regulation or subsection (b) provisions when authorized by State laws or Federal regulations

(d)Exemption of specified transfers or dispositions

(e)Rules, regulations, and interpretations; future income bearing loans subject to due-on-sale options

(f)Effective date for enforcement of Corporation-owned loans with due-on-sale options

(g)Balloon payments

This CongressBills that change it or would

None we track

past change
enacted this Congress
proposed

This Congress

No bill we track in the 119th Congress changes this section.

How it got here

1983

Pub. L. 98–181 substituted "With respect to a real property loan secured by a lien on residential real property containing less than five dwelling units, including a lien on the stock allocated to a dwelling unit in a cooperative housing corporation, or on a residential manufactured ho… · (d)

Text, outline and history from the official U.S. Code (2024 edition) on GovInfo, published by the Office of the Law Revision Counsel. Changes made after that edition appear under This Congress.