Delaware Statutes
§ 18-505 — Defense of usury not available
No obligation of a member or manager of a limited liability company to the limited liability company, or to a member or manager of the limited liability company, arising under the limited liability company agreement or a separate agreement or writing, and no note, instrument or other writing evidencing any such obligation of a member or manager, shall be subject to the defense of usury, and no member or manager shall interpose the defense of usury with respect to any such obligation in any action.
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Legislative History
69 Del. Laws, c. 260, § 26 ; 78 Del. Laws, c. 270, § 7
Nearby Sections
15
§ 18-1001
Right to bring action§ 18-1002
Proper plaintiff§ 18-1003
Complaint§ 18-1004
Expenses§ 18-101
Definitions§ 18-102
Name set forth in certificate§ 18-103
Reservation of name§ 18-108
Indemnification