Arizona § 44-1204 Payments of interest on obligation involving more than the maximum permitted by law on counterclaim in action brought on obligation; action to recover payments of interest in excess of principal on usurious obligation

Arizona Statutes

§ 44-1204 — Payments of interest on obligation involving more than the maximum permitted by law on counterclaim in action brought on obligation; action to recover payments of interest in excess of principal on usurious obligation

Arizona § 44-1204

Title 44Arizona Revised Statutes

Ch. 9TRADE PRACTICES GENERALLY

Art. 1Miscellaneous Provisions Relating to Loans

This text of Arizona § 44-1204 (Payments of interest on obligation involving more than the maximum permitted by law on counterclaim in action brought on obligation; action to recover payments of interest in excess of principal on usurious obligation) is published on Counsel Stack Legal Research, covering Arizona primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ariz. Rev. Stat. Ann. § 44-1204 (2026).

Text

In an action to recover on an obligation whereby there is contracted for, reserved or taken, a greater rate of interest than the maximum permitted by law, all payments made in money or property may be pleaded as a counterclaim or set-off. If such payments exceed the amount of the principal, judgment may be given in favor of the defendant for the excess, with interest at the rate of ten per cent per annum. If such payments exceed the amount of the principal of the debt or obligation, an action may be maintained to recover the excess.

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In an action to recover on an obligation whereby there is contracted for, reserved or taken, a greater rate of interest than the maximum permitted by law, all payments made in money or property may be pleaded as a counterclaim or set-off. If such payments exceed the amount of the principal, judgment may be given in favor of the defendant for the excess, with interest at the rate of ten per cent per annum. If such payments exceed the amount of the principal of the debt or obligation, an action may be maintained to recover the excess.