Mich. Comp. Laws » Michigan Compiled Laws / Chapter 450 / Act 23 of 1993
Michigan Compiled Laws

Mich. Comp. Laws § 450.4212 (2026)

Interest rate; agreement.

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MICHIGAN LIMITED LIABILITY COMPANY ACT


Act 23 of 1993


450.4212 Interest rate; agreement.

Sec. 212.

    A domestic or foreign limited liability company, whether or not formed at the request of a lender, may agree in writing to pay any rate of interest as long as that rate of interest is not in excess of the rate set forth in Act No. 259 of the Public Acts of 1968, being sections 438.41 to 438.42 of the Michigan Compiled Laws.

History: 1993, Act 23, Eff. June 1, 1993

Notes of Decisions
Cited in 5 cases (5 in the last 5 years), 2021–2025 · leading case: Soaring Pine Capital Real Est. v. Park Street Grp. Realty, 999 N.W.2d 8 (Mich. 2023).
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Soaring Pine Capital Real Est. v. Park Street Grp. Realty, 999 N.W.2d 8 (Mich. 2023). · cites it 6× “61(3); MCL 450.4212. If a borrower shows that a lender assessed an interest rate exceeding the statutory maximum, the lender is precluded from collecting any interest owed on the loan.”
Top Shelv Worldwide, LLC v. World Bus. Lenders, L.L.C., No. 23-02031 (Bankr. E.D. Mich. Mar. 14, 2025). · cites it 6× “” Mich. Comp. Laws § 450.4212 . Because § 438.”
Top Shelv Worldwide, LLC v. World Bus. Lenders, L.L.C., No. 23-02031 (Bankr. E.D. Mich. Mar. 17, 2025). · cites it 6× “” Mich. Comp. Laws § 450.4212 . Because § 438.”
Equine Luxury Props., Inc. v. Com. Capital Bidco, Inc., No. 1:23-cv-01142, 2024 WL 2768514 (W.D. Mich. May 30, 2024). · cites it 2× “” Mich. Comp. Laws § 450.4212 . Because § 438.”
Soaring Pine Capital Real Est. v. Park Street Grp. Realty, 976 N.W.2d 674 (Mich. Ct. App. 2021). “See MCL 450.4212 (“A domestic or foreign limited liability company, whether or not formed at the request of a lender, may agree in writing to pay any rate of interest as long as that rate of interest is not in excess of the rate set forth in [MCL 438.”
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