Chapter 438. Money and Interest

Of Money of Account, and of the Interest of Money, and On Judgments, Verdicts, Etc

• MCL 438.1 Money of Account
• MCL 438.2 Reduction of Monetary Units to Standard Units

Interest of Money

• MCL 438.5 Holder In Due Course; Recovery

Interest On Judgments, Verdicts, Etc

• MCL 438.7 Interest On Verdicts

Interest Rates

• MCL 438.31 Legal Interest Rate; Scope; Limitation; Construction; Foreign Obligations
• MCL 438.31a Payment of Reasonable and Necessary Charges In Addition to Interest; Exceptions
• MCL 438.31b Loan Settlement Statement
• MCL 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
• MCL 438.31d Waiver of Defense of Usury By Nonprofit Corporation
• MCL 438.32 Violation of Act; Attorney Fees and Court Costs, Recovery
• MCL 438.33 Repeal

Criminal Usury

• MCL 438.41 Criminal Usury; Definition; Penalty
• MCL 438.42 Usurious Loan Records; Possession, Penalty

Interest Rates

• MCL 438.51-438.53 [Repealed]

Exemption of Loans to Business Entities From Usury Statute

• MCL 438.61 "Business Entity" and "Related Entity" Defined; Extension of Credit to Business Entity; Agreement In Writing to Rate of Interest

Interest On Due and Unpaid Interest

• MCL 438.101 Interest On Due and Unpaid Interest; Rate

Interest On Contracts Between Citizens of Michigan and Other States

• MCL 438.151 Interest Rate; Obligations Payable Out of State
• MCL 438.152 Interest Valid In This State; Defense of Usury Not Available
• MCL 438.153 Interest Valid In This State; Lawful to Take, Reserve, Or Discount
• MCL 438.154 Contract Made In State Or With Citizen of State; Principal and Interest Payable Out of State; Governing Law