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<law><site_title>Virginia Decoded</site_title><site_url>https://vacode.org</site_url><law_id>77492</law_id><section_number>6.2-308</section_number><catch_line>Entities not permitted to plead usury</catch_line><edition url="https://vacode.org/2025/" slug="2025" current="TRUE" last_updated="">2025</edition><structure><unit label="title" level="1" order_by="1" identifier="6.2">Financial Institutions and Services</unit><unit label="subtitle" level="2" order_by="1" identifier="I">General Provisions</unit><unit label="chapter" level="3" order_by="1" identifier="3">Interest and Usury</unit><unit label="article" level="4" order_by="1" identifier="3">Usury</unit></structure><text>
						<section id="A"><p><span class="prefix-number">A.</span> No (i) corporation, (ii) partnership that is required to file a certificate pursuant to Chapter 2.1 (&#xA7; <a class="law" title="Definitions" href="/50-73.1/">50-73.1</a> et seq.) of Title 50 or was required to file a certificate pursuant to former Chapter 2 (&#xA7; <a class="law" title="Repealed" href="/50-44/">50-44</a> et seq.) or Chapter 3 (&#xA7; <a class="law" title="Repealed" href="/50-74/">50-74</a> et seq.) of Title 50 or that is formed under <span class="dictionary">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 <span class="dictionary">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. <a id="paragraph-277976" class="section-permalink" href="https://vacode.org/6.2-308/#A"><i class="fa fa-link"/></a></p></section>
						<section id="B"><p><span class="prefix-number">B.</span> Nothing contained in this chapter or any other statutory or <span class="dictionary">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 <span class="dictionary">entity</span> described in subsection A has contracted to pay, regardless of whether it is more than the <span class="dictionary">contract</span> rate of interest and the <span class="dictionary">fact</span> appears on the face of the <span class="dictionary">contract</span>. <a id="paragraph-277977" class="section-permalink" href="https://vacode.org/6.2-308/#B"><i class="fa fa-link"/></a></p></section></text><history>1987, c. 622, &#xA7; 6.1-330.76; 1988, c. 765; 1993, c. 113; 2010, c. 794.</history><metadata></metadata></law>
