Michigan Laws 125.1444g – Enforcement of promises or commitments; action to be brought against authority
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An action shall not be brought against the authority to enforce any of the following promises or commitments of the authority unless the promise or commitment is in writing and signed with an authorized signature by the authority:
(a) A promise or commitment to lend money, grant or extend credit, or make any other financial accommodation.
Terms Used In Michigan Laws 125.1444g
- Authority: means the Michigan state housing development authority created in this act. See Michigan Laws 125.1411
- in writing: shall be construed to include printing, engraving, and lithographing; except that if the written signature of a person is required by law, the signature shall be the proper handwriting of the person or, if the person is unable to write, the person's proper mark, which may be, unless otherwise expressly prohibited by law, a clear and classifiable fingerprint of the person made with ink or another substance. See Michigan Laws 8.3q
(b) A promise or commitment to renew, extend, modify, or permit a delay in repayment or performance of a loan, extension of credit, or other financial accommodation.
(c) A promise or commitment to waive a provision of a loan, extension of credit, or other financial accommodation.