§ 6.1-330.76. Corporations, partnerships, limited liability companies, real estate investment trusts and certain ...
No corporation, partnership which is or was required to file a certificate pursuant to Chapter 2 (§ 50-44 et seq.), Chapter 2.1 (§ 50-73.1 et seq.) or Chapter 3 (§ 50-74 et seq.) of Title 50 or which is formed under laws other than those of this Commonwealth, limited liability company, real estate investment trust, or joint venture organized for the purpose of holding, developing and managing real estate for profit shall, by way of defense or otherwise, avail itself of any of the provisions of this chapter or any other section or case law relating to usury or compounding of interest to avoid or defeat the payment of any interest or any other sum which it has contracted to pay. Nothing contained in any of such sections shall be construed to prevent the recovery of such interest or any other sum, though it is more than contract rate of interest and though the fact appears on the face of the contract.
(1987, c. 622; 1988, c. 765; 1993, c. 113.)
Sections: Previous 6.1-330.69 6.1-330.70 6.1-330.71 6.1-330.72 6.1-330.73 6.1-330.74 6.1-330.75 6.1-330.76 6.1-330.77 6.1-330.77:1 6.1-330.78 6.1-330.78:1 6.1-330.79 6.1-330.80 6.1-330.81 NextLast modified: April 16, 2009