{"data":{"id":"us-mi/mich.-comp.-laws-500.4064","jurisdiction":"us-mi","citation":"Mich. Comp. Laws § 500.4064","heading":"Loan indebtedness; right to compound interest.","body":"Sec. 4064.\n\nIn ascertaining the indebtedness due upon any loan upon any policy of insurance issued in this state, the interest, if not paid when due, shall be added to the principal of such loan, and shall bear interest at the rate specified in the note or loan agreement.","path":["MI Code","Chapter 500","Act Act-218-of-1956"],"source_url":"https://www.legislature.mi.gov/Laws/MCL?objectName=mcl-500-4064","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:31Z","sha256":"6f1b78fcdc54340c33c6b58869b4cced4a9738c8d95c1bc1c90326e6ffc0894a","source_id":"us-mi","stale":false,"prev":"us-mi/mich.-comp.-laws-500.4062","next":"us-mi/mich.-comp.-laws-500.407"},"notice":"GroundRules: Original legal text. Not legal advice."}