{"data":{"id":"us-mi/mich.-comp.-laws-445.271","jurisdiction":"us-mi","citation":"Mich. Comp. Laws § 445.271","heading":"Definitions.","body":"Sec. 1.\n\nAs used in this act:\n\n\"Adverse information\" means information indicating that the cosigner has not complied with the contractual provisions of an obligation.\n\n\"Collection action\" means requesting a cosigner to pay all or part of the obligation.\n\n\"Cosigner\" means a natural person who renders himself or herself liable for the obligation of another person without compensation. The term includes a person whose signature is requested as a condition to granting credit to another person, or as a condition for forbearance on collection of another person's obligation that is in default. The term does not include a spouse whose signature is required on a credit obligation to perfect a security interest under state law, or a person who has executed a guarantee. A person who does not receive goods, services, or money in return for a credit obligation does not receive compensation within the meaning of this definition. A person is a cosigner within the meaning of this act whether or not he or she is designated as a cosigner on a credit obligation.\n\n\"Obligation\" means an indebtedness incurred by an individual for personal, family, or household purposes.\n\n\"Person\" means an individual, firm, partnership, association, or corporation.\n\n\"Primary obligor\" means a person, other than a cosigner, who signs an obligation as a debtor.","path":["MI Code","Chapter 445","Act Act-211-of-1989"],"source_url":"https://www.legislature.mi.gov/Laws/MCL?objectName=mcl-445-271","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:31Z","sha256":"925ec97764d20b2b8af0e43fcd7ac4b106e285ac33c66736879a8a8466d1ec56","source_id":"us-mi","stale":false,"prev":"us-mi/mich.-comp.-laws-445.555","next":"us-mi/mich.-comp.-laws-445.272"},"notice":"GroundRules: Original legal text. Not legal advice."}