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17 chapters · 183 sections in this title.
Mich. Comp. Laws § 570.151 Building contract fund; status as a trust fund.
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Sec. 1. In the building construction industry, the building contract fund paid by any person to a contractor, or by such person or contractor to a subcontractor, shall be considered by this act to be a trust fund, for the benefit of the person making the payment, contractors, lab…
Mich. Comp. Laws § 570.152 Building contract fund; fraudulent detention or use by contractor or subcontractor, penalty.
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Sec. 2. Any contractor or subcontractor engaged in the building construction business, who, with intent to defraud, shall retain or use the proceeds or any part therefor, of any payment made to him, for any other purpose than to first pay laborers, subcontractors and materialmen,…
Mich. Comp. Laws § 570.153 Building contract fund; evidence of fraudulent detention or use.
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Sec. 3. The appropriation by a contractor, or any subcontractor, of any moneys paid to him for building operations before the payment by him of all moneys due or so to become due laborers, subcontractors, materialmen or others entitled to payment, shall be evidence of intent to d…