{"data":{"id":"us-mi/mich.-comp.-laws-449.1109","jurisdiction":"us-mi","citation":"Mich. Comp. Laws § 449.1109","heading":"Agreement to pay interest in excess of legal rate; defense of usury prohibited.","body":"Sec. 109.\n\nA domestic or foreign limited partnership, whether or not formed at the request of a lender, may by agreement in writing, and not otherwise, agree to pay a rate of interest in excess of the legal rate, and in such case the defense of usury is prohibited. This section shall not be construed as allowing a domestic or foreign limited partnership to pay a rate of interest in excess of the rate set forth in Act No. 259 of the Public Acts of 1968, being sections 438.41 and 438.42 of the Michigan Compiled Laws.","path":["MI Code","Chapter 449","Act Act-213-of-1982"],"source_url":"https://www.legislature.mi.gov/Laws/MCL?objectName=mcl-449-1109","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:31Z","sha256":"21379258fe8f61be7b467b83c4e862d063e84139f684bc46e52b250703e7cea0","source_id":"us-mi","stale":false,"prev":"us-mi/mich.-comp.-laws-449.1108","next":"us-mi/mich.-comp.-laws-449.1201"},"notice":"GroundRules: Original legal text. Not legal advice."}