{"data":{"id":"us-mi/mich.-comp.-laws-440.4407","jurisdiction":"us-mi","citation":"Mich. Comp. Laws § 440.4407","heading":"Improper payment; subrogation of payor bank.","body":"Sec. 4407.\n\nIf a payor bank has paid an item over the order of the drawer or maker to stop payment, or after an account has been closed, or otherwise under circumstances giving a basis for objection by the drawer or maker, to prevent unjust enrichment and only to the extent necessary to prevent loss to the bank by reason of its payment of the item, the payor bank is subrogated to the rights of the following:\n\nOf any holder in due course on the item against the drawer or maker.\n\nOf the payee or any other holder of the item against the drawer or maker either on the item or under the transaction out of which the item arose.\n\nOf the drawer or maker against the payee or any other holder of the item with respect to the transaction out of which the item arose.","path":["MI Code","Chapter 440","Act Act-174-of-1962"],"source_url":"https://www.legislature.mi.gov/Laws/MCL?objectName=mcl-440-4407","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:31Z","sha256":"34ba75ad80c6a9ffbab02b6803b4816c389b72acb0591e79e99fc9a76b7f47e1","source_id":"us-mi","stale":false,"prev":"us-mi/mich.-comp.-laws-440.4406","next":"us-mi/mich.-comp.-laws-440.4501"},"notice":"GroundRules: Original legal text. Not legal advice."}