2009 Michigan Laws > Chapter 438 > Act 140 of 1861 – Interest On Contracts Between Citizens Of Michigan And Other States Current as of: 2009 | Check for updates | Other versions § 438.151 Interest rate; obligations payable out of state § 438.152 Interest valid in this state; defense of usury not available § 438.153 Interest valid in this state; lawful to take, reserve, or discount § 438.154 Contract made in state or with citizen of state; principal and interest payable out of state; governing law