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Connecticut Laws | Title 37 Interest
CHAPTER 673* INTEREST
Sec. 37-9. Loans to which prohibitions do not apply.

such institution is located; (9) any loan made to a plan participant or beneficiary from an employee pension benefit plan as defined in the Employee Retirement Income Security Act of 1974, Public Law 93-406, as from time to time amended. The provisions of part III of chapter 668 shall not apply to loans made pursuant to subdivision (7) of this section. No provision of this section shall prevent any such bank, out-of-state bank, Connecticut credit union or federal credit union or other lender from recovering by an action at law the amount of the principal and the interest stipulated or interest at the legal rate, if interest is not stipulated, in any negotiable instrument which it has acquired for value and in good faith without notice of illegality in the consideration. For the purpose of this section: "Interest" shall not be construed to include attorney's fees, including preparation of mortgage deed and note, security agreements, title search, waivers and closing fees, survey charges or recording fees paid by the mortgagor or borrower; "consumer purposes" shall mean the utilization of funds for personal, family or household purchases, acquisitions or uses. (31)

Sec. 37-10. (32)(Text)

Transferred to Chapter 846, Sec. 49-2b. (33)

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