{"data":{"id":"us-mi/mich.-comp.-laws-487.14308","jurisdiction":"us-mi","citation":"Mich. Comp. Laws § 487.14308","heading":"Acquisition of real property for use of customer; loan secured by real property.","body":"Sec. 4308.\n\nA bank may lease, purchase, hold, and convey real property for the use of a customer by lease arrangement with the bank, but the acquisition of real property and leasing to a customer constitutes a loan secured by real property for purposes of section 4202.\n\nA bank may incur additional obligations incident to becoming an owner or lessor of real property acquired for the use of a customer.\n\nInventory of real property held under this section and not leased shall not exceed 25% of the bank's capital and surplus.","path":["MI Code","Chapter 487","Act Act-276-of-1999"],"source_url":"https://www.legislature.mi.gov/Laws/MCL?objectName=mcl-487-14308","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:31Z","sha256":"b20c8bf4d20e9a52faa59bbc544618961a6ce0dc7d83595f0e342c1def314c6f","source_id":"us-mi","stale":false,"prev":"us-mi/mich.-comp.-laws-487.14307","next":"us-mi/mich.-comp.-laws-487.14309"},"notice":"GroundRules: Original legal text. Not legal advice."}