There is a newer version of this Section
2018 New Jersey Revised Statutes
Title 31 - INTEREST AND USURY
Chapter 1 - Contract rate; rate on mortgages on dwellings and other loans; computation of interest or discount; determination of rates
Section 31:1-6 - Defense of usury by corporation, limited liability company, limited liability partnership; prohibited.
Universal Citation: NJ Rev Stat § 31:1-6 (2018)
Section: 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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