Michigan § 493.73 - Instrument evidencing or securing secondary mortgage; contents.
Full text of Michigan Michigan Compiled Laws § 493.73 — Instrument evidencing or securing secondary mortgage; contents., with citation guidance and answers to common questions.
§ 493.73. Instrument evidencing or securing secondary mortgage; contents.
An instrument evidencing or securing a secondary mortgage loan shall not contain any of the following:
A power of attorney to confess judgment.
A provision by which the debtor waives rights accruing under this act, any federal law, or law of this state.
An assignment of or order for the payment of all or part of salary, wages, commissions, or other compensation for services earned or to be earned.
A provision to compel, encourage, or induce a borrower to incorporate to evade the provisions of this act.
A provision by which a debtor agrees to pay damages absent a judgment by a court.
Source: official Michigan text · Last verified 2026-08-27
Frequently Asked Questions About Michigan § 493.73
What does Michigan Compiled Laws § 493.73 cover?
Section 493.73 ("Instrument evidencing or securing secondary mortgage; contents.") 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 § 493.73?
A common citation format is "Michigan Compiled Laws § 493.73" (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 § 493.73 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.