{"data":{"id":"us-ky/krs-360.025","jurisdiction":"us-ky","citation":"KRS 360.025","heading":"Excess rate of interest prohibited as defense of corporation.","body":"(1) No corporation shall hereafter plead or set up the taking of more than the legal rate\nof interest, as a defense to any action brought against it to recover damages on, or\nenforce payment of, or other remedy on, any mortgage, bond, note or other\nobligation, executed or assumed by such corporation: provided, that this section\nshall not apply to any action which is now pending or to any suit or action instituted\nsubsequent to June 16, 1960, upon any mortgage, bond, note or other obligation\nexecuted or assumed by such corporation prior to June 16, 1960.\n(2) The provisions of subsection (1) of this section shall not apply to a corporation, the\nprincipal asset of which shall be the ownership of a one (1) or two (2) family\ndwelling.","path":["KRS Chapter 360"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=34173","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:58:53Z","sha256":"fce52ddffc02ceba2d6b035c894dd79e67b33d39ebb8fb0274f42680dc165d82","source_id":"us-ky","stale":false,"prev":"us-ky/krs-360.022","next":"us-ky/krs-360.027"},"notice":"GroundRules: Original legal text. Not legal advice."}