445.1604 Advantageous loan terms.
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/mi/chapter-445/445-1604A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
445.1604 Advantageous loan terms.
Sec. 4.
This act shall not be construed to prohibit the United States, this state, a local governmental entity, an agency or instrumentality of any of the preceding entities, a nonprofit organization, or a credit granting institution acting with the permission of the commissioner, from offering more advantageous loan terms to a person, corporation, partnership, or other entity, or from making advantageous terms available on the basis of location in a specific geographic area when made available under the auspices of an organized housing program operated by the United States, this state, a local governmental entity, an agency or instrumentality of any of the preceding entities, a nonprofit corporation, or a credit granting institution.
History: 1977, Act 135, Eff. July 1, 1978