Main Content Act 52 of 1970 friendly link Printer Friendly bills affecting index and updates Search within this Statute for EXEMPTION OF LOANS TO BUSINESS ENTITIES FROM USURY STATUTEAct 52 of 1970AN ACT to exempt loans to business entities from the provisions of the usury statute. History: 1970, Act 52, Imd. Eff. July 10, 1970 © 2009 Legislative Council, State of MichiganThe People of the State of Michigan enact: DocumentTypeDescription Section 438.61Section“Business entity” and “related entity” defined; extension of credit to business entity; agreement in writing to rate of interest.
