MOORE, Justice.
Defendant first contends that the court erred in ruling that G.S. § 24-8 as amended was applicable to the loan in question.
Prior to its amendment on 2 July 1969, G.S. § 24-8 provided that on loans of $30,000 or more to corporations the legal rate of interest was 8%.
By amendment effective 2 July 1969, G.S. § 24-8 was rewritten to read, in pertinent part, as follows:
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