29 CFR 20.51 – Exemptions
(a) The provisions of 31 U.S.C. § 3717 do not apply:
Terms Used In 29 CFR 20.51
- Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.
- Contract: A legal written agreement that becomes binding when signed.
- Statute: A law passed by a legislature.
(1) To debts owed by any State or local government;
(2) To debts arising under contracts which were executed prior to, and were in effect on (i.e., were not completed as of), October 25, 1982;
(3) To debts where an applicable statute, regulation required by statute, loan agreement, or contract either prohibits such charges or explicitly fixes the charges that apply to the debts involved; or
(4) To debts arising under the Social Security Act, the Internal Revenue Code of 1954, or the tariff laws of the United States.
(b) Agencies are authorized to assess interest and related charges on debts which are not subject to 31 U.S.C. § 3717 to the extent authorized under the common law or other applicable statutory authority.