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12 U.S.C. · Banks and Banking
12 U.S.C. § 86

Usurious interest; penalty for taking; limitations

Ch. 2 — NATIONAL BANKS
Title 12 U.S.C. ● ACTIVE Primary Source Ch. 2
Statutory Text

12 U.S.C. § 86 — Usurious interest; penalty for taking; limitations

U.S.C. Title 12 - BANKS AND BANKING 12 U.S.C. United States Code, 2023 Edition Title 12 - BANKS AND BANKING CHAPTER 2 - NATIONAL BANKS SUBCHAPTER IV - REGULATION OF THE BANKING BUSINESS; POWERS AND DUTIES OF NATIONAL BANKS Sec. 86 - Usurious interest; penalty for taking; limitations From the U.S. Government Publishing Office, www.gpo.gov

§86. Usurious interest; penalty for taking; limitations

The taking, receiving, reserving, or charging a rate of interest greater than is allowed by section 85 of this title, when knowingly done, shall be deemed a forfeiture of the entire interest which the note, bill, or other evidence of debt carries with it, or which has been agreed to be paid thereon. In case the greater rate of interest has been paid, the person by whom it has been paid, or his legal representatives, may recover back, in an action in the nature of an action of debt, twice the amount of the interest thus paid from the association taking or receiving the same: Provided, That such action is commenced within two years from the time the usurious transaction occurred.

(R.S. §5198.)

Editorial Notes

Codification R.S. §5198 (less last sentence) derived from act June 3, 1864, ch. 106, §30, 13 Stat. 108, which was the National Bank Act. See section 38 of this title. Section is based on R.S. §5198, less last sentence as added by act Feb. 18, 1875, ch. 80, §1, 18 Stat. 320, which is classified to section 94 of this title.

Source: uscode.house.gov — public domain Official Source ↗
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12 U.S.C. § 86
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The statutory text of 12 U.S.C. § 86 is reproduced from the official United States Code as published by the Office of the Law Revision Counsel of the U.S. House of Representatives (uscode.house.gov).
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← 12 U.S.C. § 85 12 U.S.C. § 86a →
Ch. 2 — NATIONAL BANKS
12 U.S.C. § 2112 U.S.C. § 21a12 U.S.C. § 2212 U.S.C. § 2312 U.S.C. § 2412 U.S.C. § 24a12 U.S.C. § 2512 U.S.C. § 25a12 U.S.C. § 25b12 U.S.C. § 2612 U.S.C. § 2712 U.S.C. § 2812 U.S.C. § 2912 U.S.C. § 3012 U.S.C. § 3112 U.S.C. § 3212 U.S.C. § 3312 U.S.C. § 3512 U.S.C. § 3612 U.S.C. § 3712 U.S.C. § 3812 U.S.C. § 3912 U.S.C. § 4012 U.S.C. § 4112 U.S.C. § 4212 U.S.C. § 4312 U.S.C. § 5112 U.S.C. § 51a12 U.S.C. § 51b12 U.S.C. § 51b1
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