Michigan Administrative Code — Department of Treasury (tax rules)

Mich. Admin. Code R 388.11 — Interest rates on qualified loans

Rule 11. (1) All qualified loans shall bear interest as defined in section 9(8) of the act,
MCL 388.1929.
(2) The department shall recalculate the interest rate on all qualified loans at least
quarterly.
(3) Interest on all qualified loans shall be compounded annually on September 30.

Courtesy of Michigan Administrative Rules

Last amended: 2007 AACS; 2014 AACS; 2022 MR 3, Eff. Feb. 15, 2022.

Source: official text