12 U.S.C. § 3804
EDITORIAL NOTES
AMENDMENTS1983-Subsec. (a). Pub. L. 98-181 inserted "(or to any class or type of alternative mortgage transaction)".
STATUTORY NOTES AND RELATED SUBSIDIARIES
EFFECTIVE DATESection effective Oct. 15, 1982, see section 807(a) of Pub. L. 97-320 set out as a note under section 3801 of this title.
- State
- The term "State" means any State, territory, or possession of the United States, the District of Columbia, the Commonwealth of Puerto Rico, the Commonwealth of the Northern Mariana Islands, Guam, American Samoa, or the United States Virgin Islands or any federally recognized Indian tribe, as defined by the Secretary of the Interior under section 5131(a) of title 25.
- credit
- The term "credit" means the right granted by a person to a consumer to defer payment of a debt, incur debt and defer its payment, or purchase property or services and defer payment for such purchase.
- person
- The term "person" means an individual, partnership, company, corporation, association (incorporated or unincorporated), trust, estate, cooperative organization, or other entity.
- alternative mortgage transaction
- the term "alternative mortgage transaction" means a loan or credit sale secured by an interest in residential real property, a dwelling, all stock allocated to a dwelling unit in a residential cooperative housing corporation, or a residential manufactured home (as that term is defined in section 5402(6) of title 42), in which the interest rate or finance charge may be adjusted or renegotiated, described and defined by applicable regulation; and