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The DC Code: § 28-3309 Council of the District of Columbia authorized to exempt certain loans, and to change rates of interest.

Index28 Commercial Instruments and Transactions. (Refs & Annos)

The Council of the District of Columbia is authorized from time to time to provide by regulation for (1) the exemption from the provisions of this chapter of any loan or financial transaction, and (2) the change of any interest rate specified in this chapter. The Council is further authorized to amend or repeal any such regulation at any time, but no such amendment or repeal relating to any exemption made under authority of this section shall affect any such loan or financial transaction lawfully made or entered into while such exemption is in effect.

Historical and Statutory

Prior Codifications 1981 Ed., § 28-3309. 1973 Ed., § 28-3309. Legislative History of Laws For legislative history of D.C. Law 11-255, see Historical and Statutory Notes following § 28-3307. Change in Government This section originated at a time when local government powers were delegated to the District of Columbia Council and to a Commissioner of the District of Columbia. The District of Columbia Self-Government and Governmental Reorganization Act, 87 Stat. 818, § 711 (D.C. Code, § 1-207.11), abolished the District of Columbia Council and the Office of Commissioner of the District of Columbia. These branches of government were replaced by the Council of the District of Columbia and the Office of the Mayor of the District of Columbia, respectively. Accordingly, and also pursuant to § 714(a) of such Act (D.C. Code, § 1-207.14(a)), appropriate changes in terminology were made in this section. DC CODE § 28-3309 Current through December 11, 2012

Credits

(Dec. 29, 1973, 87 Stat. 945, Pub. L. 93-229, § 1(a); Apr. 9, 1997, D.C. Law 11-255, § 27(f), 44 DCR 1271.)