Mich. Comp. Laws § 445.1594

Loan documents not containing nonrecourse loan provisions; use.

Michigan · Michigan Compiled Laws — NONRECOURSE MORTGAGE LOAN ACT (Act 67 of 2012) · Status: effective

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Citation: Mich. Comp. Laws § 445.1594, Loan documents not containing nonrecourse loan provisions; use, Michigan, version 1 as recorded 2026-08-18, yourstate.us, https://yourstate.us/provision/1362949
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Full text

This act does not prohibit a loan secured by a mortgage on real property located in this state from being fully recourse to the borrower or the guarantor, including, but not limited to, as a result of a post closing solvency covenant, if the loan documents for that loan do not contain nonrecourse loan provisions.