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Michigan Legislature
Michigan Compiled Laws Complete Through PA 19 of 2024
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Section 550.1214

THE NONPROFIT HEALTH CARE CORPORATION REFORM ACT (EXCERPT)
Act 350 of 1980


550.1214 Rate of interest.

Sec. 214.

   A health care corporation may by agreement in writing, and not otherwise, agree to pay a rate of interest in excess of the legal rate, and in that case, the defense of usury is prohibited.


History: 1980, Act 350, Eff. Apr. 3, 1981
Popular Name: Blue Cross-Blue Shield
Popular Name: Act 350




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