September 21, 2005, Introduced by Reps. Hune and Gaffney and referred to the Committee on Government Operations.
A bill to amend 1931 PA 259, entitled
"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,"
by amending the title and section 1 (MCL 570.151).
THE PEOPLE OF THE STATE OF MICHIGAN ENACT:
TITLE
An act to protect the people of the state from imposition and
fraud in the private and public building construction industry; to
provide for the creation of certain trust funds under certain
circumstances; to create certain remedies; and to provide penalties
for
the violation of this the
act.
Sec. 1. In the private and public building construction
industry, the building contract fund paid by any person to a
contractor,
or by such that
person or contractor to a
subcontractor, shall
be is considered
by this act to be a
trust
fund ,
for the benefit of the person making the payment,
contractors,
laborers, subcontractors, or materialmen. , and the
The
contractor or subcontractor shall
be is considered the
trustee
of all funds so paid to him or
her for private and public
building construction purposes.