Michigan Compiled Laws 276-1999-4-2 Part 2 Loans (487.14201...487.14205)

• Section 487.14201 Loans And Credit Extensions; Interest And Charges.
  (1) A bank may collect interest and charges on loans and extensions of credit as permitted by the laws of this state or of...
• Section 487.14202 Total Loans And Credit Extensions; Limitation; Exceptions; Limitations Based Upon Capital And Surplus.
  (1) Except as otherwise provided in this section or by order or declaratory ruling of the commissioner, the total loans and extensions of credit...
• Section 487.14203 Financing Real Or Personal Property; Use Of Proceeds For Purchase, Design, Manufacture, Construction, Repair, Modification, Or Improvement; Liability For Defect.
  A bank that makes a loan, the proceeds of which are used or may be used by the borrower to finance the purchase, design,...
• Section 487.14204 Insurance; Hazard; Property And Casualty.
  (1) A bank that requires a mortgagor to maintain hazard insurance as a condition of receiving a mortgage loan shall not require the amount...
• Section 487.14205 Allowance For Bank Loan And Lease Losses; Charge Off Of Debt.
  Unless a debt constitutes a claim against a solvent estate in probate, if the interest on a debt held by a bank is past...

Last modified: October 10, 2016