Michigan Compiled Laws Complete Through PA 5 of 2025
MCL Complete Through PA 5 of 2025
Senate adjourned until Tuesday, June 17, 2025 10:00 AM
Senate adjourned until 06/17/25 10:00 AM
House adjourned until Tuesday, June 17, 2025 1:30 PM
House adjourned until 06/17/25 1:30 PM
Document - Section 438.31c
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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.