Michigan Compiled Laws Act 259 Of 1931 Building Contract Fund (570.151 - 570.153)

AN ACT to protect the people of the state from imposition and fraud in the building construction industry and to provide penalties for the violation of this act.

History: 1931, Act 259, Eff. Sept. 18, 1931

Compiler's Notes: For transfer of powers and duties of certain occupational functions, boards, and commissions from the Department of Licensing and Regulation to the Department of Commerce, see E.R.O. No. 1991-9, compiled at MCL 338.3501 of the Michigan Compiled Laws.

Section 570.151 Building Contract Fund; Status As A Trust Fund.
In the building construction industry, the building contract fund paid by any person to a contractor, or by such person or contractor to a...
Section 570.152 Building Contract Fund; Fraudulent Detention Or Use By Contractor Or Subcontractor, Penalty.
Any contractor or subcontractor engaged in the building construction business, who, with intent to defraud, shall retain or use the proceeds or any part...
Section 570.153 Building Contract Fund; Evidence Of Fraudulent Detention Or Use.
The appropriation by a contractor, or any subcontractor, of any moneys paid to him for building operations before the payment by him of all...

Last modified: October 10, 2016