Michigan § 487.14201 - Loans and credit extensions; interest and charges.
Full text of Michigan Michigan Compiled Laws § 487.14201 — Loans and credit extensions; interest and charges., with citation guidance and answers to common questions.
§ 487.14201. Loans and credit extensions; interest and charges.
A bank may collect interest and charges on loans and extensions of credit as permitted by the laws of this state or of the United States to any person.
A bank may charge a discount on obligations purchased by the bank.
Source: official Michigan text · Last verified 2026-08-27
Frequently Asked Questions About Michigan § 487.14201
What does Michigan Compiled Laws § 487.14201 cover?
Section 487.14201 ("Loans and credit extensions; interest and charges.") 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 § 487.14201?
A common citation format is "Michigan Compiled Laws § 487.14201" (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 § 487.14201 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.