Legislation
SECTION 5-517
Transfer of cause of action for usury
General Obligations (GOB) CHAPTER 24-A, ARTICLE 5, TITLE 5
§ 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.
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.