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- Chapter 438. Money and Interest
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MCL 438.152 Interest Valid In This State; Defense of Usury Not Available
| Library | Michigan Statutes |
| Edition | 2023 |
| Currency | Current through Public Act 321 of the 2023 Legislative Session |
| Year | 2023 |
| Citation | MCL 438.152 |
No plea of usury, nor defense founded upon an allegation of usury, shall be sustained in any court in this state, nor shall any security be held invalid on an allegation of usury, where the rate of interest reserved, discounted or taken, does not exceed that allowed by the laws of this state, in consequence of such security being payable in a state, kingdom or country where su...
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