State Codes and Statutes

Statutes > New-jersey > Title-31 > Section-31-1 > 31-1-6

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.