N.Y. GOB Law § 5-515
This is the official text of N.Y. GOB Law § 5-515, part of New York’s GOB Law — part of the compiled statutory law of New York, published by the state as "GOB Law." Browse the sections below, each linked to its official government source.
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Borrower bringing an action need not offer to repay
Official statutory text
§ 5-515. Borrower bringing an action need not offer to repay.\nWhenever any borrower of money, goods or things in action, shall begin\nan action for the recovery of the money, goods or things in action taken\nin violation of the foregoing provisions of this title, it shall not be\nnecessary for him to pay or offer to pay any interest or principal on\nthe sum or thing loaned; nor shall any court require or compel the\npayment or deposit of the principal sum or interest, or any portion\nthereof, as a condition of granting relief to the borrower in any case\nof usurious loans forbidden by the foregoing provisions of this title.\n
Status: in_force · Read it on the official government site
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