CHAPTER 323

An Act to amend and reenact § 6.1-828 of the Code of Virginia, relating
to certain loan contracts insured by the Federal Housing Administra-
tion or the Veterans Administration.

[H 973]

Approved April 2, 1968

Be it enacted by the General Assembly of Virginia:

1. That § 6.1-828, of the Code of Virginia be amended and reenacted
as follows:

§ 6.1-328. If the rate of interest specifically set forth in the bond,
note or other evidence of indebtedness, exclusive of other charges set forth
in the securing deed of trust, does not exceed the * contract rate
prescribed in *§ 6.1-319, no person shall, by way of defense or otherwise,
avail himself of any of the provisions of this chapter, to avoid or defeat the
payment of any interest or fee which he shall have contracted to pay on
any loan or forbearance of money insured by the Federal Housing Admini-
stration, or the Commissioner thereof, under or pursuant to the provisions
of the National Housing Act, approved June twenty-seven, nineteen hun-
dred thirty-four, and amendments thereto, or guaranteed by the Veterans
Administration, or the Administrator thereof, under and pursuant to
Title 38 of the United States Code, and amendments thereto; nor shall
anything contained in this chapter be construed to prevent the recovery
rn such interest or fee from any person who shall have contracted to pay

e same.