CODE OF VIRGINIA

LOANS INSURED OR GUARANTEED BY CERTAIN GOVERNMENTAL AGENCIES (§ 6.2-329)

A. No person shall, by way of defense or otherwise, avail himself of any of the
provisions of this chapter or any other law relating to usury or any statutory
or case law relating to compounding of interest to avoid or defeat the payment
of any interest or any other sum which he has contracted to pay on any loan:

   1.  Insured by the Federal Housing Administration, pursuant to the provisions
   of the National Housing Act (12 U.S.C. § 1701 et seq.);

   2.  Guaranteed by the U.S. Department of Veterans Affairs, pursuant to Title
   38 of the United States Code; or

   3.  Insured or guaranteed by any similar federal governmental agency or
   organization, or made directly or indirectly by the Virginia Housing
   Development Authority pursuant to the provisions of Chapter 1.2 (§ 36-55.24
   et seq.) of Title 36.

B. Nothing contained in this chapter shall be construed to prevent the recovery
of such interest or any other sum from any person who has contracted to pay the
same in connection with any loan described in this section.

HISTORY: 1987, c. 622, § 6.1-330.74; 2010, c. 794.