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Michigan Legislature
Michigan Compiled Laws Complete Through PA 178 of 2019
House: Adjourned until Tuesday, January 21, 2020 1:30:00 PM
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Act 140 of 1861
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INTEREST ON CONTRACTS BETWEEN CITIZENS OF MICHIGAN AND OTHER STATES

Act 140 of 1861

AN ACT relative to the interest on contracts between citizens of this state, and other states and countries, payable elsewhere than in this state.


History: 1861, Act 140, Eff. June 16, 1861


© 2017 Legislative Council, State of Michigan

The People of the State of Michigan enact:

DocumentTypeDescription
Section 438.151SectionInterest rate; obligations payable out of state.
Section 438.152SectionInterest valid in this state; defense of usury not available.
Section 438.153SectionInterest valid in this state; lawful to take, reserve, or discount.
Section 438.154SectionContract made in state or with citizen of state; principal and interest payable out of state; governing law.
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