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334.021 Corporation prohibited from interposing defense of usury.

No corporation shall hereafter interpose the defense of usury in any action. The term "corporation," as used in this section, includes any cooperative corporation, cooperative association, limited liability company, or limited partnership, and further includes any association or joint stock company having any of the powers and privileges of corporations not possessed by an individual or a partnership.

HIST: 1947 c 282 s 1; 1969 c 922 s 1; 1984 c 493 s 1; 1Sp1985 c 13 s 316; 1993 c 137 s 55