Loan documents not containing nonrecourse loan provisions; use.

Sec. 4. This act does not prohibit a loan secured by a mortgage on real property located in this state from being fully recourse to the borrower or the guarantor, including, but not limited to, as a result of a post closing solvency covenant, if the loan documents for that loan do not contain nonrecourse loan provisions. History: 2012, Act 67, Imd. Eff. Mar. 29, 2012