N.Y. General Obligations Law § 5-517: Transfer of cause of action for usury

§ 5-517. Transfer of cause of action for usury. A cause of action to

cancel, or otherwise affect, an instrument executed, or an act done, as

security for a usurious loan or forbearance, can be transferred, where

the instrument or act creates a specific charge upon property, which is

also transferred in disaffirmance thereof, and not otherwise; but, in

that case, the transferee does not succeed to the right, conferred by

statute upon the borrower, to procure relief, without paying, or

offering to pay, any part of the sum or thing loaned.