§ 5-501. Rate of interest; usury forbidden. 1. The rate of interest, as computed pursuant to this title, upon the loan or forbearance of any money, goods, or things in action, except as provided in subdivisions five and six of this section or as otherwise provided by law, shall be six per centum per annum […]
§ 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, […]
§ 5-513. Recovery of excess. Every person who, for any such loan or forbearance, shall pay or deliver any greater sum or value than is allowed to be received pursuant to section 5-501, and his personal representatives, may recover in an action against the person who shall have taken or received the same, and his […]
§ 5-515. Borrower bringing an action need not offer to repay. Whenever any borrower of money, goods or things in action, shall begin an action for the recovery of the money, goods or things in action taken in violation of the foregoing provisions of this title, it shall not be necessary for him to pay […]
§ 5-517. Transfer of cause of action for usury. A cause of action to cancel, or otherwise affect, an instrument executed, or an act done, as security for a usurious loan or forbearance, can be transferred, where the instrument or act creates a specific charge upon property, which is also transferred in disaffirmance thereof, and […]
§ 5-519. Return of excess a bar to further penalties. Every person who shall repay or return the money, goods or other things so taken, accepted or received, or the value thereof, shall be discharged from any other or further forfeiture or penalty which he may have incurred under sections 5-511 or 5-513, by taking […]
§ 5-521. Corporations prohibited from interposing defense of usury. 1. No corporation shall hereafter interpose the defense of usury in any action. The term corporation, as used in this section, shall be construed to include all associations, and joint-stock companies having any of the powers and privileges of corporations not possessed by individuals or partnerships. […]
§ 5-523. Interest permitted on advances on collateral security. In any case in which advances of money, repayable on demand, to an amount not less than five thousand dollars, are made upon documents of title within article seven of the uniform commercial code or negotiable instruments within article three or article eight of the uniform […]
§ 5-524. Taking security upon certain property for usurious loans. A person who takes security, upon any household furniture, sewing machines, plate or silverware in actual use, tools or implements of trade, wearing apparel or jewelry, for a loan or forbearance of money, or for the use or sale of his personal credit, conditioned upon […]
§ 5-525. Interest charged by a registered broker or dealer for carrying debit balances. Interest charged by a broker or dealer registered under the securities exchange act of nineteen hundred thirty-four, as amended, for carrying a debit balance including a debit balance arising out of a non-purpose loan, in an account for a customer shall […]
§ 5-526. Interest on secured loans or forbearances. 1. Interest charged on loans or forbearances made to corporations for business or commercial purposes in the amount of one hundred thousand dollars or more and secured in compliance with the uniform commercial code shall not be subject to the limitations of this title or sections 190.40 […]
§ 5-527. Enforceability of compound interest. 1. A loan or other agreement providing for compound interest shall be enforceable notwithstanding the date that such loan or other agreement providing for such compound interest shall have been executed; provided, however, that such compound interest shall begin to accrue and become due and payable on the later […]
§ 5-531. Brokerage on loans; recovery of excess; effect of restitution. 1. No person shall, directly or indirectly, take or receive more than fifty cents for a brokerage, soliciting, driving or procuring the loan or forbearance of one hundred dollars, and in that proportion for a greater or less sum, except loans on real estate […]
