§ 6.2-329. (Effective October 1, 2010) Loans insured or guaranteed by certaingovernmental agencies.
A. No person shall, by way of defense or otherwise, avail himself of any ofthe provisions of this chapter or any other law relating to usury or anystatutory or case law relating to compounding of interest to avoid or defeatthe payment of any interest or any other sum which he has contracted to payon any loan:
1. Insured by the Federal Housing Administration, pursuant to the provisionsof the National Housing Act (12 U.S.C. § 1701 et seq.);
2. Guaranteed by the Veterans Administration, pursuant to Title 38 of theUnited States Code; or
3. Insured or guaranteed by any similar federal governmental agency ororganization, or made directly or indirectly by the Virginia HousingDevelopment Authority pursuant to the provisions of Chapter 1.2 (§ 36-55.24et seq.) of Title 36.
B. Nothing contained in this chapter shall be construed to prevent therecovery of such interest or any other sum from any person who has contractedto pay the same in connection with any loan described in this section.
§ 6.2-329. (Effective October 1, 2010) Loans insured or guaranteed by certaingovernmental agencies.
A. No person shall, by way of defense or otherwise, avail himself of any ofthe provisions of this chapter or any other law relating to usury or anystatutory or case law relating to compounding of interest to avoid or defeatthe payment of any interest or any other sum which he has contracted to payon any loan:
1. Insured by the Federal Housing Administration, pursuant to the provisionsof the National Housing Act (12 U.S.C. § 1701 et seq.);
2. Guaranteed by the Veterans Administration, pursuant to Title 38 of theUnited States Code; or
3. Insured or guaranteed by any similar federal governmental agency ororganization, or made directly or indirectly by the Virginia HousingDevelopment Authority pursuant to the provisions of Chapter 1.2 (§ 36-55.24et seq.) of Title 36.
B. Nothing contained in this chapter shall be construed to prevent therecovery of such interest or any other sum from any person who has contractedto pay the same in connection with any loan described in this section.
§ 6.2-329. (Effective October 1, 2010) Loans insured or guaranteed by certaingovernmental agencies.
A. No person shall, by way of defense or otherwise, avail himself of any ofthe provisions of this chapter or any other law relating to usury or anystatutory or case law relating to compounding of interest to avoid or defeatthe payment of any interest or any other sum which he has contracted to payon any loan:
1. Insured by the Federal Housing Administration, pursuant to the provisionsof the National Housing Act (12 U.S.C. § 1701 et seq.);
2. Guaranteed by the Veterans Administration, pursuant to Title 38 of theUnited States Code; or
3. Insured or guaranteed by any similar federal governmental agency ororganization, or made directly or indirectly by the Virginia HousingDevelopment Authority pursuant to the provisions of Chapter 1.2 (§ 36-55.24et seq.) of Title 36.
B. Nothing contained in this chapter shall be construed to prevent therecovery of such interest or any other sum from any person who has contractedto pay the same in connection with any loan described in this section.
