KRS 360.027: Excess rate of interest prohibited as defense of limited partnership, limited

liability company, or business or statutory trust.

(1) No limited partnership, limited liability company, or business or statutory trust shall

hereafter plead or set up th e taking of more than the legal rate of interest, as a

defense to any action brought against it to recover damages on, or enforce payment

of, or other remedy on, any mortgage, bond, note or other obligation, executed or

assumed by such limited partnership, limited liability, or business or statutory trust;

provided, that this section shall not apply to any action instituted subsequent to June

16, 1972, upon any mortgage, bond, note or other obligation executed or assumed

by such limited partnership or business trust prior to June 16, 1972.

(2) The provisions of subsection (1) of this section shall not apply to a limited

partnership, limited liability company, or business or statutory trust, the principal

asset of which shall be the ownership of a one (1) or two (2) family dwelling.