§433 — Exemptions with Respect to Certain Contracts.

Chapter 23 — Contracts

Sections 431 and 432 of this title shall not extend to any contract or agreement made or entered into, or accepted by any incorporated company for the general benefit of such corporation; nor to the purchase or sale of bills of exchange or other property where the same are ready for delivery and payment therefor is made at the time of making or entering into the contract or agreement. Nor shall the provisions of such sections apply to advances, loans, discounts, purchase or repurchase agreements, extensions, or renewals thereof, or acceptances, releases or substitutions of security therefor or other contracts or agreements made or entered into under the Reconstruction Finance Corporation Act, the Agricultural Adjustment Act, the Federal Farm Loan Act, the Emergency Farm Mortgage Act of 1933, the Farm Credit Act of 1933, or the Home Owners Loan Act of 1933, the Farmers' Home Administration Act of 1946, the Bankhead-Jones Farm Tenant Act, or to crop insurance agreements or contracts or agreements of a kind which the Secretary of Agriculture may enter into with farmers.

Any exemption permitted by this section shall be made a matter of public record.

( June 25, 1948 ,ch. 645, 62 Stat. 703; Pub. L. 87-353, §3(o), Oct. 4, 1961 , 75 Stat. 774.)

AMENDMENTS

1961 - Pub. L. 87-353 struck out "the Federal Farm Mortgage Corporation Act," after "the Emergency Farm Mortgage Act of 1933, ".