Mich. Comp. Laws § 438.31d
Current through Public Act 171 of the 2024 Legislative Session
Notwithstanding the provisions of section 78 of Act No. 327 of the Public Acts of 1931, as amended, being section 450.78 of the Compiled Laws of 1948, a charitable, religious or other nonprofit corporation may waive the defense of usury without regard to the amount borrowed.
MCL 438.31d