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Code · Michigan · Chapter 487 — Financial Institutions

487.14201 Loans and credit extensions; interest and charges.

62 words·~1 min read·/mi/chapter-487/487-14201

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487.14201 Loans and credit extensions; interest and charges.
Sec. 4201.
(1)A bank may collect interest and charges on loans and extensions of credit as permitted by the laws of this state or of the United States to any person.
(2)A bank may charge a discount on obligations purchased by the bank.
History: 1999, Act 276 , Eff. Mar. 1, 2000
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