A contractor receives a stop payment notice on a project. Under Michigan lien law, how many days does the property owner have to respond with proof of payment or deposit?
Correct Answer
C) 10 days
Michigan law requires property owners to respond to stop payment notices within 10 days with proof of payment or deposit.
Why This Is the Correct Answer
Michigan law requires property owners to respond to stop payment notices within 10 days with proof of payment or deposit.
More mi-business Questions
A Michigan contractor forms an S-Corporation. What is the maximum number of shareholders allowed?
A contractor's employee is injured on a job site in Michigan. The contractor's workers' compensation insurance has a $500 deductible per claim. The total medical costs are $12,500 and lost wages are $3,200. What is the contractor's out-of-pocket cost for this claim?
What is the minimum general liability insurance coverage amount required for Michigan residential builders?
Under Michigan Act 299, what is the consequence for a contractor who performs work outside the scope of their license classification?
A contractor discovers that a subcontractor has filed a construction lien against their project. The general contractor believes the lien is invalid. What is the primary legal mechanism to challenge the lien in Michigan?
Under Michigan Act 299, what happens if a contractor continues to work without a valid license after it expires?
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Under Michigan Act 299, a contractor's license must be renewed every:
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A contractor purchases commercial auto insurance with $500,000 coverage. A work truck causes $750,000 in damages. What is the contractor's personal exposure?
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A Michigan contractor has $85,000 in labor costs and $45,000 in material costs for a project. If the workers compensation rate is 8.5% of labor costs, what is the total workers compensation premium?