Miss. Code § 79-29-509

Current through the 2024 Regular Session
Section 79-29-509 - Defense of usury not available

No obligation of a member, manager or officer of a limited liability company to the limited liability company arising under the operating agreement or a separate agreement or writing, and no note, instrument or other writing evidencing any such obligation of a member, manager or officer, shall be subject to the defense of usury, and no member, manager or officer shall interpose the defense of usury with respect to any such obligation in any action.

Miss. Code § 79-29-509

Laws, 2010, ch. 532, § 1, eff. 1/1/2011.