{"data":{"id":"us-ky/krs-360.027","jurisdiction":"us-ky","citation":"KRS 360.027","heading":"Excess rate of interest prohibited as defense of limited partnership, limited","body":"liability company, or business or statutory trust.\n(1) No limited partnership, limited liability company, or business or statutory trust shall\nhereafter plead or set up th e taking of more than the legal rate of interest, as a\ndefense to any action brought against it to recover damages on, or enforce payment\nof, or other remedy on, any mortgage, bond, note or other obligation, executed or\nassumed by such limited partnership, limited liability, or business or statutory trust;\nprovided, that this section shall not apply to any action instituted subsequent to June\n16, 1972, upon any mortgage, bond, note or other obligation executed or assumed\nby such limited partnership or business trust prior to June 16, 1972.\n(2) The provisions of subsection (1) of this section shall not apply to a limited\npartnership, limited liability company, or business or statutory trust, the principal\nasset of which shall be the ownership of a one (1) or two (2) family dwelling.","path":["KRS Chapter 360"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=44378","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:58:53Z","sha256":"a6ec47eaef1a268f00cd15443e37b6bd2ae1562347c93d00a2bbd7b14cb4a14e","source_id":"us-ky","stale":false,"prev":"us-ky/krs-360.025","next":"us-ky/krs-360.030"},"notice":"GroundRules: Original legal text. Not legal advice."}