Michigan § 445.1594 - Loan documents not containing nonrecourse loan provisions; use.
Full text of Michigan Michigan Compiled Laws § 445.1594 — Loan documents not containing nonrecourse loan provisions; use., with citation guidance and answers to common questions.
§ 445.1594. Loan documents not containing nonrecourse loan provisions; use.
This act does not prohibit a loan secured by a mortgage on real property located in this state from being fully recourse to the borrower or the guarantor, including, but not limited to, as a result of a post closing solvency covenant, if the loan documents for that loan do not contain nonrecourse loan provisions.
Source: official Michigan text · Last verified 2026-08-27
Frequently Asked Questions About Michigan § 445.1594
What does Michigan Compiled Laws § 445.1594 cover?
Section 445.1594 ("Loan documents not containing nonrecourse loan provisions; use.") 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 § 445.1594?
A common citation format is "Michigan Compiled Laws § 445.1594" (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 § 445.1594 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.