---
urn: urn:us-la:rs:9:3506
citation: "R.S. 9:3506"
status: active
breadcrumb: "Title 9 › Code Preliminary Title › Code Book III › Code Title XII › Chapter 1 › Part I"
acts_citations:
  - { year: 1969, number: 28, section: 5, effective_date: null, role: enactment }
  - { year: 1986, number: 584, section: 2, effective_date: 1986-07-02, role: amendment }
  - { year: 2004, number: 743, section: 3, effective_date: 2005-01-01, role: amendment }
---

# Application

The provisions of R.S. 9:3502-9:3506 shall apply only to conventional obligations bearing simple interest from date on the unpaid balance and shall not apply to or affect precomputed interest or discount loans; nor shall it affect the enforceability or collectibility of notes or obligations as provided in R.S. 9:3500. Notwithstanding the twelve percent simple interest rate limitations under R.S. 9:3503, the provisions of R.S. 9:3504 and 3505 shall apply to federally related mortgage loans subject to 12 U.S.C. §1735f-5 that bear simple interest at rates in excess of twelve percent per annum.