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Mich. Comp. Laws § 445.1858

Certain provisions in written agreement as void and unenforceable.

Michigan · Michigan Compiled Laws — CREDIT REFORM ACT (Act 162 of 1995) · Status: effective

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Mich. Comp. Laws § 445.1858, Certain provisions in written agreement as void and unenforceable, Michigan, version 1 as recorded 2026-08-18, yourstate.us, https://yourstate.us/provision/1363080
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Any of the following provisions contained in a written document made in connection with an extension of credit to an individual for personal, family, or household purposes are void and unenforceable: (a) A power of attorney to confess a judgment. (b) Unless otherwise expressly provided for by law, a waiver of a borrower's or buyer's rights under this act. (c) Except as authorized by this act, an agreement by a borrower or buyer to pay a penalty. Late payment and prepayment charges are not penalties.