Michigan § 438.154 - Contract made in state or with citizen of state; principal and interest payable out of state; governing law.
Full text of Michigan Michigan Compiled Laws § 438.154 — Contract made in state or with citizen of state; principal and interest payable out of state; governing law., with citation guidance and answers to common questions.
§ 438.154. Contract made in state or with citizen of state; principal and interest payable out of state; governing law.
When any contract or loan shall be made in this State or between citizens of this State and any other State or country, bearing interest at any rate which was or shall be lawful according to any law of the State of Michigan, it shall and may be lawful to make the amount of principal and interest of such contract or loan payable in any other State or territory of the United States, or in England; and in all such cases, such contract or loan shall be deemed and considered as governed by the laws of the State of Michigan, and shall not be affected by the laws of the State or country where the same shall be made payable, and no contract or loan, which may have heretofore been made or entered into in this State, or between citizens of this State and of any other country bearing interest at a rate which was legal according to the laws of this State at the time when the same was made or entered into, shall be invalidated or in anywise impaired or affected by reason of the same having been made payable in any other State or country.
Source: official Michigan text · Last verified 2026-08-27
Frequently Asked Questions About Michigan § 438.154
What does Michigan Compiled Laws § 438.154 cover?
Section 438.154 ("Contract made in state or with citizen of state; principal and interest payable out of state; governing law.") is part of the Michigan Compiled Laws, the codified statutory law of Michigan. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Michigan § 438.154?
A common citation format is "Michigan Compiled Laws § 438.154" (Michigan). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Michigan law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Michigan official source linked on this page or consult a licensed Michigan attorney.
How does Michigan § 438.154 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Michigan can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Michigan.