Section 445.1858 - Certain provisions in written agreement as void and unenforceableAny of the following provisions contained in a written document made in connection with an extension of credit to an individual for personal, family, or household purposes are void and unenforceable:
(a) A power of attorney to confess a judgment.(b) Unless otherwise expressly provided for by law, a waiver of a borrower's or buyer's rights under this act.(c) Except as authorized by this act, an agreement by a borrower or buyer to pay a penalty. Late payment and prepayment charges are not penalties.1995, Act 162, Eff. 3/28/1996 .