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Code · Michigan · Chapter 550 — General Insurance Laws

550.1214 Rate of interest.

58 words·~1 min read·/mi/chapter-550/550-1214

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550.1214 Rate of interest.
Sec. 214.
A health care corporation may by agreement in writing, and not otherwise, agree to pay a rate of interest in excess of the legal rate, and in that case, the defense of usury is prohibited.
History: 1980, Act 350, Eff. Apr. 3, 1981
Popular Name: Blue Cross-Blue Shield
Popular Name: Act 350
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