Michigan § 141.2409 - Interest rate; limitation; payment.
Full text of Michigan Michigan Compiled Laws § 141.2409 — Interest rate; limitation; payment., with citation guidance and answers to common questions.
§ 141.2409. Interest rate; limitation; payment.
A municipal security issued pursuant to this part shall bear no interest or interest at a rate not to exceed that provided in part III and shall be payable not later than the estimated time of collection of an amount sufficient for its payment out of the taxes or revenues pledged for the municipal security, as determined by the governing body of the municipality.
Frequently Asked Questions About Michigan § 141.2409
What does Michigan Compiled Laws § 141.2409 cover?
Section 141.2409 ("Interest rate; limitation; payment.") 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 § 141.2409?
A common citation format is "Michigan Compiled Laws § 141.2409" (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 § 141.2409 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.