Mich. Comp. Laws § 450.2275
Current through Public Act 166 of the 2024 Legislative Session
A domestic corporation or foreign corporation, whether or not formed at the request of a lender or in furtherance of a business enterprise, may by agreement in writing, and not otherwise, agree to pay a rate of interest in excess of the legal rate and is prohibited from asserting the defense of usury in an action on the debt.
MCL 450.2275