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New Jersey 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.

          
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.



This section added to the Rutgers Database: 2012-09-26 13:37:50.






Older versions of 31:1-6 (if available):



Court decisions that cite this statute: CLICK HERE.