Section 491.142 - “Real estate loan” defined.
SAVINGS AND LOAN ACT OF 1980 (EXCERPT)
Act 307 of 1980
491.142 “Real estate loan” defined.
Sec. 142.
“Real estate loan” means a loan or obligation secured by an interest in real estate, including a leasehold extending or automatically renewable for a period beyond the date for final repayment of the loan or obligation, or any transaction out of which a lien or claim is created against the real estate.
History: 1980, Act 307, Eff. Jan. 1, 1981