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2021 Michigan Compiled Laws
Chapter 438 - Money and Interest
Act 140 of 1861 - Interest on Contracts Between Citizens of Michigan and Other States (438.151 - 438.154)
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
- Section 438.151 - Interest Rate; Obligations Payable Out of State.
- 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.
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