Code of Virginia § 6.2-316. Loans of $5,000 or more made by certain financial institutions.
75 words·~1 min read·
/va/title-6-2/chapter-3/6-2-316A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
No person shall, by way of defense or otherwise, avail himself of the provisions of this chapter or any other section relating to usury to avoid or defeat the payment of interest, or any other sum, upon a loan made to a person by a bank, savings institution, industrial loan association, or credit union, if the initial principal amount of the loan is $5,000 or more.
1987, c. 622, § 6.1-330.61; 2010, c. 794 .