Michigan § 129.244 Total combined authorized credit limit; limitation; payment of balance, annual fee, and interest.

Michigan Statutes

§ 129.244 — Total combined authorized credit limit; limitation; payment of balance, annual fee, and interest.

Michigan § 129.244

Ch. 129PUBLIC FUNDS

Act 266 of 1995CREDIT CARD TRANSACTIONS (129.241-129.247)

This text of Michigan § 129.244 (Total combined authorized credit limit; limitation; payment of balance, annual fee, and interest.) is published on Counsel Stack Legal Research, covering Michigan primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Mich. Comp. Laws § 129.244 (2026).

Text

CREDIT CARD TRANSACTIONS (EXCERPT) Act 266 of 1995 129.244 Total combined authorized credit limit; limitation; payment of balance, annual fee, and interest. Sec. 4.

(1)The total combined authorized credit limit of all credit cards issued by a local unit shall not exceed 5% of the total budget of the local unit for the current fiscal year.

(2)The governing body of a local unit may include in its budget and pay the balance due on any credit cards, including the annual fee and interest.

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CREDIT CARD TRANSACTIONS (EXCERPT) Act 266 of 1995 129.244 Total combined authorized credit limit; limitation; payment of balance, annual fee, and interest. Sec. 4. (1) The total combined authorized credit limit of all credit cards issued by a local unit shall not exceed 5% of the total budget of the local unit for the current fiscal year. (2) The governing body of a local unit may include in its budget and pay the balance due on any credit cards, including the annual fee and interest.