17-76,103. Defense of usury not available. - Kansas Statutes

17-76,103

Chapter 17.--CORPORATIONS Article 76.--LIMITED LIABILITY COMPANIES

      17-76,103.   Defense of usury not available. No obligation of a member or manager of a limited liability company to the limited liability company arising under the operating 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.

      History:   L. 1999, ch. 119, § 42; Jan. 1, 2000.