A Michigan contractor files a construction lien for $25,000. Under the Construction Lien Act 497, within how many days must the contractor commence legal action to enforce the lien?
Correct Answer
C) 365 days
Under Michigan's Construction Lien Act 497, legal action to enforce a construction lien must be commenced within one year (365 days) of filing the lien.
Why This Is the Correct Answer
Under Michigan's Construction Lien Act 497, legal action to enforce a construction lien must be commenced within one year (365 days) of filing the lien.
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What is the minimum workers' compensation coverage limit required for Michigan contractors?
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A contractor's employee earning $52,000 annually is injured on the job in Michigan. If the workers' compensation rate is 8.5% of payroll, what is the annual premium for this employee?