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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
© 2017 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.