Sec. 2. No borrower shall be permitted to defend any suit brought for the recovery of money on the ground that the officer who made the loan loaned a greater sum than the law authorized; nor shall any title to land, or lands and tenements, be considered invalid because the mortgage upon which it was or may be sold was or is or may be for a sum greater than the law authorized to be loaned. This chapter shall not be construed as to release any officer charged with the loaning of the funds, or any of them, or the officer's or their securities, from any liability incurred after August 17, 1855, for breach of duty.
Formerly: Acts 1855, c.54, s.2. As amended by P.L.5-1984, SEC.39; P.L.215-2016, SEC.69.