Sec. 4. A bond shall be executed by a surety company authorized to do business in this state. In the case of a contract of the state or a department, board, commission, institution or agency thereof the bonds shall be payable to the people of the state. In the case of all other contracts the bonds shall be payable to the governmental unit.
Mich. Comp. Laws § 129.204
Bond, surety, obligee
Applied in 1 court decision — leading case Kammer Asphalt Paving Co. v. East China Township Schools (1993)
Most recently applied in Kammer Asphalt Paving Co. v. East China Township Schools (August 1993)
1963, Act 213, Eff
Official source: Michigan Legislature. Reproduced from public-domain Michigan statutes; confirm against the official source for the current text. Not legal advice.