{"data":{"id":"us-mi/mich.-comp.-laws-125.707","jurisdiction":"us-mi","citation":"Mich. Comp. Laws § 125.707","heading":"Cooperative financing arrangement; resolution; agent borrower.","body":"Sec. 57.\n\nA borrower desiring to join in a cooperating financing arrangement with any other borrower shall adopt a resolution determining to enter into a cooperative financing arrangement and designating 1 of the cooperating borrowers as agent borrower. The agent borrower by resolution shall agree to accept the designation and act in the capacity of agent borrower and direct the preparation of a financing agreement.","path":["MI Code","Chapter 125","Act Act-18-of-1933-Ex-Sess-"],"source_url":"https://www.legislature.mi.gov/Laws/MCL?objectName=mcl-125-707","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:31Z","sha256":"1033343af8a2c137163cc173b4470e275bebf98c7c8ebbea2e855f909dc54c33","source_id":"us-mi","stale":false,"prev":"us-mi/mich.-comp.-laws-125.706","next":"us-mi/mich.-comp.-laws-125.708"},"notice":"GroundRules: Original legal text. Not legal advice."}