Search within this Statute for
EXEMPTION OF LOANS TO BUSINESS ENTITIES FROM USURY STATUTE
Act 52 of 1970
AN 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 Michigan
The People of the State of Michigan enact:
|Section 438.61||Section||“Business entity” and “related entity” defined; extension of credit to business entity; agreement in writing to rate of interest.