Sec. 212.
A domestic or foreign limited liability company, whether or not formed at the request of a lender, may agree in writing to pay any rate of interest as long as that rate of interest is not in excess of the rate set forth in Act No. 259 of the Public Acts of 1968, being sections 438.41 to 438.42 of the Michigan Compiled Laws.
History: 1993, Act 23, Eff. June 1, 1993
Structure Michigan Compiled Laws
Act 23 of 1993 - Michigan Limited Liability Company Act (450.4101 - 450.5200)
Article 2 - (450.4201...450.4216)
Section 450.4201 - Limited Liability Company; Purpose.
Section 450.4203 - Articles of Organization; Contents.
Section 450.4204a - Limited Liability Company Licensed as Nursing Home; Use of Terms.
Section 450.4205 - Reserving Right to Use of Name; Application; Transfer of Right.
Section 450.4207a - Certificate of Good Standing.
Section 450.4210 - Limited Liability Company; Powers.
Section 450.4211 - Validity of Action or Transfer of Property; Asserting Lack of Capacity or Power.
Section 450.4212 - Interest Rate; Agreement.
Section 450.4213 - Registered Office or Principal Place of Business; Documents Required to Be Kept.
Section 450.4214 - Conflict Between Articles of Organization and Operating Agreement.