Statute · New York General Obligations Law
N.Y. Gen. Oblig. Law § 5-515 — Borrower bringing an action need not offer to repay
N.Y. Gen. Oblig. Law § 5-515
- Type
- Statute
- Source
- New York General Obligations Law
- Jurisdiction
- New York
- Current through
- Nov 4, 2026 (NY Senate Open Legislation)
§ 5-515. Borrower bringing an action need not offer to repay. Whenever any borrower of money, goods or things in action, shall begin an action for the recovery of the money, goods or things in action taken in violation of the foregoing provisions of this title, it shall not be necessary for him…
Citator
N.Y. Gen. Oblig. Law § 5-515 — Borrower bringing an action need not offer to repay is in force in the current edition of the Code, and nothing recorded condemns it.
§ 5-515. Borrower bringing an action need not offer to repay. Whenever any borrower of money, goods or things in action, shall begin an action for the recovery of the money, goods or things in action taken in violation of the foregoing provisions of this title, it shall not be necessary for him to pay or offer to pay any interest or principal on the sum or thing loaned; nor shall any court require or compel the payment or deposit of the principal sum or interest, or any portion thereof, as a condition of granting relief to the borrower in any case of usurious loans forbidden by the foregoing provisions of this title.