New York Statutes
§ 5-517 — Transfer of cause of action for usury
New York·Law GOB General Obligations·Title 5 Interest and Usury; Brokerage On Loans·Art. 5 Creation, Definition and Enforcement of Contractual Obligations
§ 5-517. Transfer of cause of action for usury. A cause of action to\ncancel, or otherwise affect, an instrument executed, or an act done, as\nsecurity for a usurious loan or forbearance, can be transferred, where\nthe instrument or act creates a specific charge upon property, which is\nalso transferred in disaffirmance thereof, and not otherwise; but, in\nthat case, the transferee does not succeed to the right, conferred by\nstatute upon the borrower, to procure relief, without paying, or\noffering to pay, any part of the sum or thing loaned.\n
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Related
Youshah v. Staudinger
159 Misc. 2d 350 (New York Supreme Court, 1993)
Nearby Sections
15
§ 5-1107
Written assignment§ 5-1109
Written irrevocable offer§ 5-1301
How interest calculated§ 5-1401
Choice of law§ 5-1402
Choice of forum§ 5-1501
Application and definitions