Sec. 2. A person is guilty of possession of usurious loan records when, with knowledge of the contents thereof, he possesses any writing, paper, instrument or article used to record criminally usurious transactions prohibited by this act. Any person guilty of possession of usurious loan records may be imprisoned for a term not to exceed 1 year or fined not more than $1,000.00, or both.
Mich. Comp. Laws § 438.42
Usurious loan records; possession, penalty
Applied in 1 court decision — leading case 81 Mich. App. 726 - Wilkerson v. Seder (1978)
Most recently applied in 81 Mich. App. 726 - Wilkerson v. Seder (March 1978)
1968, Act 259, Eff
Official source: Michigan Legislature. Reproduced from public-domain Michigan statutes; confirm against the official source for the current text. Not legal advice.