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The DC Code: § 28-3315 Exemption of institutions of higher learning from usury law.

Index28 Commercial Instruments and Transactions. (Refs & Annos)

Any institution of higher education located in the District of Columbia and described in the first sentence of section 101(a) of the Higher Education Amendments, approved October 7, 1998 (112 Stat. 1385; 20 U.S.C. § 1001(a)) (other than District of Columbia Teachers' College, Federal City College, Gallaudet College, and Howard University) may borrow money at such rates of interest as the institution may determine, without regard to the restrictions of any usury law applicable in the District of Columbia, and shall not plead any statutes against usury in any action.

Historical and Statutory

Prior Codifications 2001 Ed., § 29-631. 1981 Ed., § 29-820. 1973 Ed., § 29-421. Legislative History of Laws For history of Law 18-378, see notes under § 28-3301. DC CODE § 28-3315 Current through December 11, 2012

Credits

(July 2, 2011, D.C. Law 18-378, § 3(i)(3), 58 DCR 1720.)