2006 New York Code - Usurious Contracts Void.

 
    § 5-511. Usurious   contracts   void.  1.  All  bonds,  bills,  notes,
  assurances, conveyances, all other contracts or  securities  whatsoever,
  except  bottomry  and respondentia bonds and contracts, and all deposits
  of goods or other things whatsoever, whereupon or whereby there shall be
  reserved or taken, or secured or agreed to be  reserved  or  taken,  any
  greater sum, or greater value, for the loan or forbearance of any money,
  goods  or  other  things in action, than is prescribed in section 5-501,
  shall be void, except that the knowingly taking, receiving, reserving or
  charging such a greater sum or  greater  value  by  a  savings  bank,  a
  savings  and  loan association or a federal savings and loan association
  shall only be held and adjudged a  forfeiture  of  the  entire  interest
  which the loan or obligation carries with it or which has been agreed to
  be  paid  thereon.  If a greater sum or greater value has been paid, the
  person paying the same or his legal representative may recover from  the
  savings  bank,  the  savings and loan association or the federal savings
  and loan association twice the entire amount of the interest thus paid.
    2.  Except  as  provided  in  subdivision  one,  whenever   it   shall
  satisfactorily  appear  by the admissions of the defendant, or by proof,
  that any bond, bill,  note,  assurance,  pledge,  conveyance,  contract,
  security  or  any  evidence  of  debt,  has  been  taken  or received in
  violation of the foregoing provisions, the court shall declare the  same
  to be void, and enjoin any prosecution thereon, and order the same to be
  surrendered and cancelled.