MCL - Section 487.14201
Act 276 of 1999
487.14201 Loans and credit extensions; interest and charges.
Sec. 4201.
(1) A bank may collect interest and charges on loans and extensions of credit as permitted by the laws of this state or of the United States to any person.
(2) A bank may charge a discount on obligations purchased by the bank.
History: 1999, Act 276, Eff. Mar. 1, 2000