Defense of usury by corporation, limited liability company, limited liability partnership; prohibited.

1. Law
2. New Jersey Revised Statutes
3. Interest and Usury
4. Defense of usury by corporation, limited liability company, limited liability partnership; prohibited.

31:1-6 Defense of usury by corporation, limited liability company, limited liability partnership; prohibited.

31:1-6. No corporation, limited liability company or limited liability partnership shall plead or set up the defense of usury to any action brought against it to recover damages or enforce a remedy on any obligation executed by said corporation, limited liability company or limited liability partnership.

Amended 1953, c.30, s.4; 1997, c.426, s.1.

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