§ 19.52.080. Defense of usury or maintaining action thereon prohibited if transaction primarily agricultural, commercial, investment, or business -- Exception
Profit and nonprofit corporations, Massachusetts trusts, associations, trusts, general partnerships, joint ventures, limited partnerships, and governments and governmental subdivisions, agencies, or instrumentalities may not plead the defense of usury nor maintain any action thereon or therefor, and persons may not plead the defense of usury nor maintain any action thereon or therefor if the transaction was primarily for agricultural, commercial, investment, or business purposes: PROVIDED, HOWEVER, That this section shall not apply to a consumer transaction of any amount.
Consumer transactions, as used in this section, shall mean transactions primarily for personal, family, or household purposes.
[1981 c 78 § 2; 1975 1st ex.s. c 180 § 1; 1970 ex.s. c 97 § 2; 1969 ex.s. c 142 § 1.]
Notes:
Severability -- 1981 c 78: See note following RCW 19.52.020.
Sections: Previous 19.52.020 19.52.025 19.52.030 19.52.032 19.52.034 19.52.036 19.52.060 19.52.080 19.52.090 19.52.100 19.52.110 19.52.115 19.52.120 19.52.130 19.52.140 Next
Last modified: April 7, 2009