---
kind: "section"
citation: "12 C.F.R. § 226.29"
title: "12"
number: "226.29"
heading: "State exemptions."
url: "https://uscodex.org/cfr/12/226.29"
---

# §226.29. State exemptions.

- (a) **General rule.** Any State may apply to the Board to exempt a class of transactions within the State from the requirements of chapter 2 (Credit transactions) or chapter 4 (Credit billing) of the Act and the corresponding provisions of this regulation. The Board shall grant an exemption if it determines that:
  - (1) The State law is substantially similar to the Federal law or, in the case of chapter 4, affords the consumer greater protection than the Federal law; and
  - (2) **There is adequate provision for enforcement.**
- (b) **Civil liability.**
  - (1) No exemptions granted under this section shall extend to the civil liability provisions of sections [130](/cfr/12/130.md) and [131](/cfr/12/131.md) of the Act.
  - (2) If an exemption has been granted, the disclosures required by the applicable State law (except any additional requirements not imposed by Federal law) shall constitute the disclosures required by this Act.
- (c) **Applications.** The procedures under which a State may apply for an exemption under this section are set forth in appendix B.

## Notes

### Amendments

[46 FR 20892, Apr. 7, 1981; 46 FR 29246, June 1, 1981]

### Authority

Authority: 12 U.S.C. 3806; 15 U.S.C. 1604, 1637(c)(5), 1639(l), and 1639h; Pub. L. 111-24, section 2, 123 Stat. 1734; Pub. L. 111-203, 124 Stat. 1376.

### Source

Source: Reg. Z, 46 FR 20892, Apr. 7, 1981, unless otherwise noted.

### Amendments

[46 FR 20892, Apr. 7, 1981; 46 FR 29246, June 1, 1981]