MCL 438.41 Criminal Usury; Definition; Penalty
| Library | Michigan Statutes |
| Edition | 2023 |
| Currency | Current through Public Act 321 of the 2023 Legislative Session |
| Year | 2023 |
| Citation | MCL 438.41 |
A person is guilty of criminal usury when, not being authorized or permitted by law to do so, he knowingly charges, takes or receives any money or other property as interest on the loan or forbearance of any money or other property, at a rate exceeding 25% at simple interest per annum or the equivalent rate for a longer or shorter period. Any person guilt...
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