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NOTE: Dates reflect any modification to item, not necessarily a change in law.
Chapter 438
- MONEY AND INTEREST
R‑S‑1846‑438‑1‑34 ‑ CHAPTER 34 Chapter 34. Of Money Of Account, And Of The Interest Of Money, And On Judgments, Verdicts, Etc. (438.1...438.7)
Section 438.31 ‑ Legal interest rate; scope; limitation; construction; foreign obligations.
Section 438.31a ‑ Payment of reasonable and necessary charges in addition to interest; exceptions.
Section 438.31c ‑ Interest charged by securities broker or dealer for carrying debit balance in customer account; written agreement for payment of interest on evidence of indebtedness; prohibitions when security is single-family dwelling unit; validity of transaction or rate of interest; limitation on rate of interest; loans to which subsection (2) applicable; mortgage loans or land contracts by lenders or vendors not qualified under subsection (5); rate of interest on purchase money mortgage or second mortgage; interest on extension of credit secured by lien on mobile home; interest not to be added or deducted in advance; computation of interest; injunction; agreement by certain parties for payment of interest; interest charged by certain trusts excepted; interest bearing deposit account; limitation; maintaining interest bearing account as condition of making mortgage loan or land contract providing for biweekly payments.
Section 438.32 ‑ Violation of act; attorney fees and court costs, recovery.
Act 52 of 1970 ‑ EXEMPTION OF LOANS TO BUSINESS ENTITIES FROM USURY STATUTE (438.61 - 438.61)
Section 438.61 ‑ “Business entity” and “related entity” defined; extension of credit to business entity; agreement in writing to rate of interest.
Act 11 of 1869 ‑ INTEREST ON DUE AND UNPAID INTEREST (438.101 - 438.101)
Act 140 of 1861 ‑ INTEREST ON CONTRACTS BETWEEN CITIZENS OF MICHIGAN AND OTHER STATES (438.151 - 438.154)
Section 438.152 ‑ Interest valid in this state; defense of usury not available.
Section 438.153 ‑ Interest valid in this state; lawful to take, reserve, or discount.
Section 438.154 ‑ Contract made in state or with citizen of state; principal and interest payable out of state; governing law.