Notwithstanding any other law to the contrary, particularly but not exclusively Article 1939 of the Louisiana Civil Code and R.S. 9:3500, an obligation secured directly or indirectly, in whole or in part, by a mortgage on immovable property of the form commonly known as a "wrap-around" mortgage shall be exempt from the application of the laws on usury and interest upon interest if the nominal interest of the wrap-around mortgage is not greater than the rate of interest lawfully allowed in a conventional mortgage.

http://www.legis.state.la.us/lss_doc/lss_house/RS\9\Doc10758...

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Note added at 18 mins (2006-02-26 22:41:04 GMT)
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Bureau of the Public Debt : Glossary of Savings Bond Terms: F - L ***Interest upon interest***, where accrued interest is added to the principal sum, and the whole treated as new principal, for the calculation of the interest ...
www.publicdebt.treas.gov/sav/savglosb.htm - 15k - Cached - Similar pages



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Note added at 20 mins (2006-02-26 22:43:02 GMT)
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US diplomats told the Council that Iraq's total debt was estimated at $400 billion, the diplomat said, adding that claims "could involve ***interest upon interest*** upon interest". Rather than set aside the first $400 billion of oil revenue to meet debt claims, the US wanted to give the Iraqi economy a chance to get working, he said.)
http://www.buzzflash.com/mediawatch/03/05/16.html