For AI agents: read the machine-readable documentation index at /llms.txt or the single-file full reference at /llms-full.txt.
Form a Business

Terms of sale; credit; limitation; security.

MCL 322.3
in effect
Sign in to generate a plain English summaryAsk Belisarius Agent
322.3. Terms of sale; credit; limitation; security. Sec. 3. Upon sale of real estate under this act, the state treasurer may give such length of credit, not to exceed 5 years, and for not more than 3/4 of the purchase money, as the state treasurer considers best calculated to produce the highest price, and shall require the money for which credit is given to be secured by a mortgage on the real estate sold. 1941, Act 230, Imd. Eff. June 16, 1941; CL 1948, 322.3; Am. 2002, Act 705, Imd. Eff. Dec. 30, 2002
Source: Michigan Legislature (legislature.mi.gov)URL: https://legislature.mi.gov/Laws/MCL?objectName=mcl-322-3Fetched: 10/20/2026

Starting a business in Michigan? Michigan LLC guide: costs and requirements