No domestic or foreign corporation, or anyone on its behalf, shall interpose the defense or make the claim of usury in any proceeding upon or with reference to any obligation of such corporation; nor shall any corporate note, bond, or other evidence of indebtedness, mortgage, pledge, or deed of trust, be set aside, impaired, or adjudged invalid by reason of anything contained in laws prohibiting usury or regulating interest rates.
Ohio Rev. Code Ann. § 1701.68
Usury
Applied in 2 court decisions — leading case Bucyrus-Erie Company v. General Products Corporation a (1981)
Most recently applied in Becker v. Marketing & Research Consultants, Inc. (November 1981)
Effective: October 11, 1955; Latest Legislation: House Bill 70 - 101st General Assembly
Official source: Ohio Laws & Administrative Rules (Legislative Service Commission). Reproduced from public-domain Ohio statutes; confirm against the official source for the current text. Not legal advice.