{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/6.2-308.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/6.2-308.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/6.2-308.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/6.2-308.html"}],"law_id":77492,"edition_id":1,"section_id":77492,"structure_id":13815,"section_number":"6.2-308","catch_line":"Entities not permitted to plead usury","history":"1987, c. 622, \u00a7 6.1-330.76; 1988, c. 765; 1993, c. 113; 2010, c. 794.","full_text":"A\n\nNo (i) corporation, (ii) partnership that is required to file a certificate pursuant to Chapter 2.1 (§ 50-73.1 et seq.) of Title 50 or was required to file a certificate pursuant to former Chapter 2 (§ 50-44 et seq.) or Chapter 3 (§ 50-74 et seq.) of Title 50 or that is formed under laws other than those of the Commonwealth, (iii) limited liability company, (iv) business trust, or (v) 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 statutory or case law relating to usury or compounding of interest to avoid or defeat the payment of any interest or any other sum that it has contracted to pay.B\n\nNothing contained in this chapter or any other statutory or case law relating to usury or compounding of interest shall be construed to prevent the recovery of interest or any other sum that an entity described in subsection A has contracted to pay, regardless of whether it is more than the contract rate of interest and the fact appears on the face of the contract.","order_by":null,"text":{"0":{"id":277976,"text":"No (i) corporation, (ii) partnership that is required to file a certificate pursuant to Chapter 2.1 (§ 50-73.1 et seq.) of Title 50 or was required to file a certificate pursuant to former Chapter 2 (§ 50-44 et seq.) or Chapter 3 (§ 50-74 et seq.) of Title 50 or that is formed under laws other than those of the Commonwealth, (iii) limited liability company, (iv) business trust, or (v) 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 statutory or case law relating to usury or compounding of interest to avoid or defeat the payment of any interest or any other sum that it has contracted to pay.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":277977,"text":"Nothing contained in this chapter or any other statutory or case law relating to usury or compounding of interest shall be construed to prevent the recovery of interest or any other sum that an entity described in subsection A has contracted to pay, regardless of whether it is more than the contract rate of interest and the fact appears on the face of the contract.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A"}},"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":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},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/6.2-308\/","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 3 times. 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. Those modifications are as follows: in 1988, chapter 765; in 1993, chapter 113; in 2010, chapter 794<\/a>.<\/p>","references":false,"refers_to":[{"id":79259,"section_number":"50-44","catch_line":"Repealed","order_by":null,"url":"\/50-44\/"},{"id":80626,"section_number":"50-73.1","catch_line":"Definitions","order_by":null,"url":"\/50-73.1\/"},{"id":71193,"section_number":"50-74","catch_line":"Repealed","order_by":null,"url":"\/50-74\/"}],"permalink":{"id":263373,"object_type":"law","relational_id":77492,"identifier":"6.2-308","token":"6.2\/I\/3\/3\/6.2-308","url":"\/6.2-308\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/6.2-308\/","token":"6.2\/I\/3\/3\/6.2-308","dublin_core":{"Title":"Entities not permitted to plead usury","Type":"Text","Format":"text\/html","Identifier":"\u00a7 6.2-308","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> No (i) corporation, (ii) partnership that is required to file a certificate pursuant to Chapter 2.1 (§ 50-73.1<\/a> et seq.) of Title 50 or was required to file a certificate pursuant to former Chapter 2 (§ 50-44<\/a> et seq.) or Chapter 3 (§ 50-74<\/a> et seq.) of Title 50 or that is formed under laws<\/span> other than those of the Commonwealth, (iii) limited liability company, (iv) business trust, or (v) 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 statutory or case law<\/span> relating to usury or compounding of interest to avoid or defeat the payment of any interest or any other sum that it has contracted to pay. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> Nothing contained in this chapter or any other statutory or case law<\/span> relating to usury or compounding of interest shall be construed to prevent the recovery of interest or any other sum that an entity<\/span> described in subsection A has contracted to pay, regardless of whether it is more than the contract<\/span> rate of interest and the fact<\/span> appears on the face of the contract<\/span>. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nENTITIES NOT PERMITTED TO PLEAD USURY (\u00a7 6.2-308)\n\nA. No (i) corporation, (ii) partnership that is required to file a certificate\npursuant to Chapter 2.1 (§ 50-73.1 et seq.) of Title 50 or was required to\nfile a certificate pursuant to former Chapter 2 (§ 50-44 et seq.) or\nChapter 3 (§ 50-74 et seq.) of Title 50 or that is formed under laws other\nthan those of the Commonwealth, (iii) limited liability company, (iv) business\ntrust, or (v) joint venture organized for the purpose of holding, developing,\nand managing real estate for profit, shall, by way of defense or otherwise,\navail itself of any of the provisions of this chapter or any other statutory or\ncase law relating to usury or compounding of interest to avoid or defeat the\npayment of any interest or any other sum that it has contracted to pay.\n\nB. Nothing contained in this chapter or any other statutory or case law relating\nto usury or compounding of interest shall be construed to prevent the recovery\nof interest or any other sum that an entity described in subsection A has\ncontracted to pay, regardless of whether it is more than the contract rate of\ninterest and the fact appears on the face of the contract.\n\nHISTORY: 1987, c. 622, \u00a7 6.1-330.76; 1988, c. 765; 1993, c. 113; 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}}