{"data":{"id":"us-mi/mich.-comp.-laws-438.31d","jurisdiction":"us-mi","citation":"Mich. Comp. Laws § 438.31d","heading":"Waiver of defense of usury by nonprofit corporation.","body":"Sec. 1d.\n\nNotwithstanding the provisions of section 78 of Act No. 327 of the Public Acts of 1931, as amended, being section 450.78 of the Compiled Laws of 1948, a charitable, religious or other nonprofit corporation may waive the defense of usury without regard to the amount borrowed.","path":["MI Code","Chapter 438","Act Act-326-of-1966"],"source_url":"https://www.legislature.mi.gov/Laws/MCL?objectName=mcl-438-31d","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:31Z","sha256":"675dc2c52264123fb4396c631e9c3f269aa0dd31bc57c1df1787c33cca49c95d","source_id":"us-mi","stale":false,"prev":"us-mi/mich.-comp.-laws-438.31c","next":"us-mi/mich.-comp.-laws-438.32"},"notice":"GroundRules: Original legal text. Not legal advice."}