{"data":{"id":"us-mi/mich.-comp.-laws-445.857","jurisdiction":"us-mi","citation":"Mich. Comp. Laws § 445.857","heading":"Time price differential; limitation; computation; minimum time price differential.","body":"Sec. 7.\n\nA retail installment contract may provide for, and the seller or holder may then charge, collect, and receive a time price differential that does not exceed the rate of interest or its equivalent permitted a regulated lender by the credit reform act. The time price differential may be computed on the basis of a full month for a fractional portion of a month in excess of 10 days. A minimum time price differential of not more than $10.00 may be charged, received, and collected on each contract, whether or not the contract is prepaid.","path":["MI Code","Chapter 445","Act Act-224-of-1966"],"source_url":"https://www.legislature.mi.gov/Laws/MCL?objectName=mcl-445-857","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:31Z","sha256":"38383e3fdcb3c74d4ae91b9bc6f5e34b0e2cef05c454fac84b92d2b139e2fa2c","source_id":"us-mi","stale":false,"prev":"us-mi/mich.-comp.-laws-445.856","next":"us-mi/mich.-comp.-laws-445.858"},"notice":"GroundRules: Original legal text. Not legal advice."}