31:1-6 Defense of usury by corporation, limited liability company, limited liability partnership; prohibited.
52 words·~1 min read·
/nj/title-31/chapter-1/31-1-6A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
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.