{"data":{"id":"us-mi/mich.-comp.-laws-487.14205","jurisdiction":"us-mi","citation":"Mich. Comp. Laws § 487.14205","heading":"Allowance for bank loan and lease losses; charge off of debt.","body":"Sec. 4205.\n\nUnless a debt constitutes a claim against a solvent estate in probate, if the interest on a debt held by a bank is past due and unpaid for a period of 12 months, the bank shall charge off to its allowance for loan and lease losses the portion of the debt that is not well secured.","path":["MI Code","Chapter 487","Act Act-276-of-1999"],"source_url":"https://www.legislature.mi.gov/Laws/MCL?objectName=mcl-487-14205","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:31Z","sha256":"f044bf7f3c1570cb2b35a45c0be22953ac27be9cb7d6ae031cc97bd331709320","source_id":"us-mi","stale":false,"prev":"us-mi/mich.-comp.-laws-487.14204","next":"us-mi/mich.-comp.-laws-487.14301"},"notice":"GroundRules: Original legal text. Not legal advice."}