Exceptions
9 V.S.A. § 46
in effect46. Exceptions
Section 43 of this title, relating to deposit requirements, and section 45 of this title, relating to prepayment penalties, shall not apply and the parties may contract for a rate of interest in excess of the rate provided in section 41a of this title in the case of:
(1) obligations of corporations, including municipal and nonprofit corporations;
(2) obligations incurred by any person, partnership, association, or other entity to finance in whole or in part income-producing business or activity, but not including obligations incurred to finance family dwellings of four units or fewer when used as a residence by the borrower or to finance real estate that is devoted to agricultural purposes as part of an operating farming unit when used as a residence by the borrower;
(3) obligations to finance the purchase, construction, or improvement of property for seasonal or part-time occupancy and not as a place of legal residence;
(4) obligations guaranteed or insured by the United States of America or any agency thereof; or
(5) obligations incurred for commercial property-assessed clean energy projects pursuant to 24 V.S.A. chapter 87, subchapter 3.
Added 1967, No. 377 (Adj. Sess.), eff. March 26, 1968; amended 1969, No. 66, § 3, eff. April 17, 1969; 1973, No. 222 (Adj. Sess.), § 6, eff. April 3, 1974; 1975, No. 216 (Adj. Sess.), § 5, eff. March 27, 1976; 2009, No. 134 (Adj. Sess.), § 24i; 2025, No. 128 (Adj. Sess.), § 14g, eff. June 8, 2026.
Source: Vermont General Assembly (legislature.vermont.gov)URL: https://legislature.vermont.gov/statutes/section/09/004/00046Fetched: 10/21/2026