§478-8 Exemptions from usury. (a) This chapter (except for this section and section 478-3) shall not apply to any mortgage loan transaction wholly or partially secured by a guarantee or insurance or a commitment to insure issued under the provisions of the National Housing Act, Chapter 13 of Title 12 of the United States Code, the Veterans Benefit Act, subchapters I and II of Chapter 37 of Title 38 of the United States Code, and subchapter III of Chapter 8A of Title 42 of the United States Code, the Small Business Act, Chapter 14A of Title 15 of the United States Code, and the Small Business Investment Act, Chapter 14B of Title 15 of the United States Code.
(b) The provisions of this chapter (except for this section and section 478-3) shall not apply to any:
(c) The provisions of this chapter (except for this section and section 478-3) shall not apply to a loan made by an employee benefit plan as defined in section 1002(3) of Title 29 of the United States Code, as amended, or a loan made by the employees' retirement system of the State of Hawaii.
(d) This chapter shall not apply to any mortgage loan which may be made by a financial institution pursuant to rules adopted by the commissioner of financial institutions pursuant to section 412:2-108. [L 1970, c 199, §2; am L 1974, c 20, §1; am L 1980, c 188, §2; am L 1981, c 204, §1; am L 1982, c 92, §2 and c 288, §2; am L 1985, c 234, §2, c 247, §3, and c 269, pt of §55; am L 1986, c 137, pt of §1; am L 1993, c 350, §27; am L 1995, c 36, §1; am L 1999, c 99, §§3, 5; am L 2001, c 68, §2; am L 2002, c 52, §2; am L 2005, c 22, §33]