{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/6.2-305.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/6.2-305.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/6.2-305.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/6.2-305.html"}],"law_id":87142,"edition_id":1,"section_id":87142,"structure_id":13815,"section_number":"6.2-305","catch_line":"Recovery of twice total usurious interest paid; limitation of action; injunction to prevent sale of property pending action; effect of errors in computation","history":"1987, c. 622, \u00a7 6.1-330.57; 2010, c. 794.","full_text":"A\n\nIf interest in excess of that permitted by an applicable statute is paid upon any loan, the person paying may bring an action within two years from the first to occur of: (i) the date of the last scheduled loan payment or (ii) the date of payment of the loan in full, to recover from the person taking or receiving such payments:1\n\nThe total amount of the interest paid to such person in excess of that permitted by the applicable statute;2\n\nTwice the total amount of interest paid to such person during the two years immediately preceding the date of the filing of the action; and3\n\nCourt costs and reasonable attorney fees.B\n\nIf the sale of property in which an interest has been conveyed to secure the payment of the debt is scheduled or anticipated, an injunction may be granted to prevent such sale pending the completion of an action brought pursuant to subsection A.C\n\nAny creditor who proves that interest or other charges in excess of those permitted by law were imposed or collected as a result of a bona fide error in computation or similar mistake shall not be liable for the penalties prescribed in this section. In such event, the creditor shall only be liable to return to the borrower the amount of interest or other charges collected in excess of the amount permitted by applicable statute.","order_by":null,"text":{"0":{"id":312051,"text":"If interest in excess of that permitted by an applicable statute is paid upon any loan, the person paying may bring an action within two years from the first to occur of: (i) the date of the last scheduled loan payment or (ii) the date of payment of the loan in full, to recover from the person taking or receiving such payments:","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"A1"},"1":{"id":312052,"text":"The total amount of the interest paid to such person in excess of that permitted by the applicable statute;","type":"section","prefixes":["A","1"],"prefix":"1","entire_prefix":"A1","prefix_anchor":"A1","level":2,"prior_prefix":"A","next_prefix":"A2"},"2":{"id":312053,"text":"Twice the total amount of interest paid to such person during the two years immediately preceding the date of the filing of the action; and","type":"section","prefixes":["A","2"],"prefix":"2","entire_prefix":"A2","prefix_anchor":"A2","level":2,"prior_prefix":"A1","next_prefix":"A3"},"3":{"id":312054,"text":"Court costs and reasonable attorney fees.","type":"section","prefixes":["A","3"],"prefix":"3","entire_prefix":"A3","prefix_anchor":"A3","level":2,"prior_prefix":"A2","next_prefix":"B"},"4":{"id":312055,"text":"If the sale of property in which an interest has been conveyed to secure the payment of the debt is scheduled or anticipated, an injunction may be granted to prevent such sale pending the completion of an action brought pursuant to subsection A.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A3","next_prefix":"C"},"5":{"id":312056,"text":"Any creditor who proves that interest or other charges in excess of those permitted by law were imposed or collected as a result of a bona fide error in computation or similar mistake shall not be liable for the penalties prescribed in this section. In such event, the creditor shall only be liable to return to the borrower the amount of interest or other charges collected in excess of the amount permitted by applicable statute.","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B"}},"ancestry":[{"id":13815,"edition_id":1,"name":"Usury","identifier":"3","label":"article","depth":4,"order_by":1,"parent_id":13814,"metadata":{},"date_created":"2026-06-26 03:45:57","date_modified":"2026-06-26 03:45:57","permalink":{"id":263355,"object_type":"structure","relational_id":13815,"identifier":"3","token":"6.2\/I\/3\/3","url":"\/6.2\/I\/3\/3\/","edition_id":1,"permalink":0,"preferred":1}},{"id":13814,"edition_id":1,"name":"Interest and Usury","identifier":"3","label":"chapter","depth":3,"order_by":1,"parent_id":12853,"metadata":{},"date_created":"2026-06-26 03:45:57","date_modified":"2026-06-26 03:45:57","permalink":{"id":263333,"object_type":"structure","relational_id":13814,"identifier":"3","token":"6.2\/I\/3","url":"\/6.2\/I\/3\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12853,"edition_id":1,"name":"General Provisions","identifier":"I","label":"subtitle","depth":2,"order_by":1,"parent_id":12852,"metadata":{},"date_created":"2026-06-26 03:43:56","date_modified":"2026-06-26 03:43:56","permalink":{"id":263251,"object_type":"structure","relational_id":12853,"identifier":"I","token":"6.2\/I","url":"\/6.2\/I\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12852,"edition_id":1,"name":"Financial Institutions and Services","identifier":"6.2","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:43:56","date_modified":"2026-06-26 03:43:56","permalink":{"id":263249,"object_type":"structure","relational_id":12852,"identifier":"6.2","token":"6.2","url":"\/6.2\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":54820,"structure_id":13815,"section_number":"6.2-304","catch_line":"Plea of usury; judgment","url":"\/6.2-304\/","token":"6.2\/I\/3\/3\/6.2-304","metadata":false},{"id":87142,"structure_id":13815,"section_number":"6.2-305","catch_line":"Recovery of twice total usurious interest paid; limitation of action; injunction to prevent sale of property pending action; effect of errors in computation","url":"\/6.2-305\/","token":"6.2\/I\/3\/3\/6.2-305","metadata":false},{"id":67369,"structure_id":13815,"section_number":"6.2-306","catch_line":"Waiver of rights violative of public policy","url":"\/6.2-306\/","token":"6.2\/I\/3\/3\/6.2-306","metadata":false},{"id":57733,"structure_id":13815,"section_number":"6.2-307","catch_line":"Assertion of defenses or claims by borrowers; effect of assignment","url":"\/6.2-307\/","token":"6.2\/I\/3\/3\/6.2-307","metadata":false},{"id":77492,"structure_id":13815,"section_number":"6.2-308","catch_line":"Entities not permitted to plead usury","url":"\/6.2-308\/","token":"6.2\/I\/3\/3\/6.2-308","metadata":false}],"previous_section":{"id":54820,"structure_id":13815,"section_number":"6.2-304","catch_line":"Plea of usury; judgment","url":"\/6.2-304\/","token":"6.2\/I\/3\/3\/6.2-304","metadata":false},"next_section":{"id":67369,"structure_id":13815,"section_number":"6.2-306","catch_line":"Waiver of rights violative of public policy","url":"\/6.2-306\/","token":"6.2\/I\/3\/3\/6.2-306","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/6.2-305\/","history_text":"

This law was first created in 1987. The record of its establishment is cataloged in chapter 622 of that year\u2019s edition of \u201cActs of Assembly,\u201d the annual state publication listing all changes made to the Code of Virginia in that year. Unfortunately, the 1987 \u201cActs\u201d aren\u2019t available online. It has been modified 1 time. Those modifications are cataloged by \u201cThe Acts of Assembly,\u201d a state publication, by year and chapter. Those modifications that can be read on the General Assembly\u2019s website will be linked accordingly. That modification is as follows: in 2010, chapter 794<\/a>.<\/p>","references":[{"id":57733,"section_number":"6.2-307","catch_line":"Assertion of defenses or claims by borrowers; effect of assignment","order_by":null,"url":"\/6.2-307\/"},{"id":66025,"section_number":"6.2-327","catch_line":"Certain loans secured by a subordinate deed of trust or mortgage","order_by":null,"url":"\/6.2-327\/"},{"id":55296,"section_number":"6.2-328","catch_line":"Charges allowed on loan secured by subordinate mortgage","order_by":null,"url":"\/6.2-328\/"}],"refers_to":false,"permalink":{"id":263361,"object_type":"law","relational_id":87142,"identifier":"6.2-305","token":"6.2\/I\/3\/3\/6.2-305","url":"\/6.2-305\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/6.2-305\/","token":"6.2\/I\/3\/3\/6.2-305","dublin_core":{"Title":"Recovery of twice total usurious interest paid; limitation of action; injunction to prevent sale of property pending action; effect of errors in computation","Type":"Text","Format":"text\/html","Identifier":"\u00a7 6.2-305","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> If interest in excess of that permitted by an applicable statute<\/span> is paid upon any loan<\/span>, the person<\/span> paying may bring an action within two years from the first to occur of: (i) the date of the last scheduled loan<\/span> payment or (ii) the date of payment of the loan<\/span> in full, to recover from the person<\/span> taking or receiving such payments: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> The total amount of the interest paid to such person<\/span> in excess of that permitted by the applicable statute<\/span>; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> Twice the total amount of interest paid to such person<\/span> during the two years immediately preceding the date of the filing of the action; and <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

3.<\/span> Court<\/span> costs and reasonable attorney fees. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> If the sale of property in which an interest has been conveyed to secure the payment of the debt is scheduled or anticipated, an injunction<\/span> may be granted to prevent such sale pending the completion of an action brought pursuant to subsection A. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

C.<\/span> Any creditor<\/span> who proves that interest or other charges in excess of those permitted by law<\/span> were imposed or collected as a result of a bona fide error in computation or similar mistake shall not be liable for the penalties prescribed in this section. In such event, the creditor<\/span> shall only be liable to return to the borrower the amount of interest or other charges collected in excess of the amount permitted by applicable statute<\/span>. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nRECOVERY OF TWICE TOTAL USURIOUS INTEREST PAID; LIMITATION OF ACTION; INJUNCTION\nTO PREVENT SALE OF PROPERTY PENDING ACTION; EFFECT OF ERRORS IN COMPUTATION (\u00a7\n6.2-305)\n\nA. If interest in excess of that permitted by an applicable statute is paid upon\nany loan, the person paying may bring an action within two years from the first\nto occur of: (i) the date of the last scheduled loan payment or (ii) the date of\npayment of the loan in full, to recover from the person taking or receiving such\npayments:\n\n 1. The total amount of the interest paid to such person in excess of that\n permitted by the applicable statute;\n\n 2. Twice the total amount of interest paid to such person during the two years\n immediately preceding the date of the filing of the action; and\n\n 3. Court costs and reasonable attorney fees.\n\nB. If the sale of property in which an interest has been conveyed to secure the\npayment of the debt is scheduled or anticipated, an injunction may be granted to\nprevent such sale pending the completion of an action brought pursuant to\nsubsection A.\n\nC. Any creditor who proves that interest or other charges in excess of those\npermitted by law were imposed or collected as a result of a bona fide error in\ncomputation or similar mistake shall not be liable for the penalties prescribed\nin this section. In such event, the creditor shall only be liable to return to\nthe borrower the amount of interest or other charges collected in excess of the\namount permitted by applicable statute.\n\nHISTORY: 1987, c. 622, \u00a7 6.1-330.57; 2010, c. 794.","edition":{"id":1,"name":"2025","slug":"2025","date_created":"2026-06-21 22:39:22","date_modified":"2026-06-21 22:39:22","current":1,"order_by":1,"last_import":null}}