Usury is personal defense; no collection from insolvent to prejudice of others

Usury is a personal defense; provided, however, that a creditor may not collect usurious interest from an insolvent debtor to the prejudice of other creditors. History. Civil Code 1895, § 2878; Civil Code 1910, § 3428; Code 1933, § 57-103; Ga. L. 2024, p. 1052, § 1(a)(38)/SB 448, effective July 1, 2024. Amendments. The 2024 amendment, effective July 1, 2024, part of an Act to revise, modernize, and correct the Code, substituted “provided, however, that” for “but” in this Code section. History of Code section. This Code section is derived from the decision in Burgwyn Bros., Tobacco Co. v. Bentley & Co., 90 Ga. 508, 16 S.E. 216 (1892).