General Obligations Law § 5-515 · Title 5. Interest and Usury; Brokerage On Loans
Borrower bringing an action need not offer to repay
Text — Law content up to date as of July 24, 2026, as published by the New York State Senate (Open Legislation)
§ 5-515. Borrower bringing an action need not offer to repay. Whenever any borrower of money, goods or things in action, shall begin an action for the recovery of the money, goods or things in action taken in violation of the foregoing provisions of this title, it shall not be necessary for him to pay or offer to pay any interest or principal on the sum or thing loaned; nor shall any court require or compel the payment or deposit of the principal sum or interest, or any portion thereof, as a condition of granting relief to the borrower in any case of usurious loans forbidden by the foregoing provisions of this title.
Source of truth
- Edition
- Law content up to date as of July 24, 2026, as published by the New York State Senate (Open Legislation)
- Official file
- https://legislation.nysenate.gov/pdf/laws/GOB5-515
- Text hash
- sha256 5409b57d0d75dc964295f2dffe213a07b9363d0a36c603e4df0838099c1d4e63
- Composed by
- gen_ny_statutes.py 2026-11-10: the Senate's Open Legislation law tree (GET /api/3/laws/<ID>?full=true) read in document order; the Senate's PDF of the whole law (GET /pdf/laws/<ID>?full=true), read with PDFium, prints the same words in the same order
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.