Michigan § 125.2055 - Insurance, guarantees, or letters of credit; limitation; paramount priority.
Full text of Michigan Michigan Compiled Laws § 125.2055 — Insurance, guarantees, or letters of credit; limitation; paramount priority., with citation guidance and answers to common questions.
§ 125.2055. Insurance, guarantees, or letters of credit; limitation; paramount priority.
Insurance, guarantees, or letters of credit provided or procured pursuant to section 53 shall be provided or procured only for economic development projects within this state which otherwise are consistent with the purposes and objectives of the fund and this chapter, including the requirements of section 12.
The fund shall give paramount priority in providing or procuring insurance, guarantees, and letters of credit to economic development projects which have the greatest potential for creating new jobs or retaining current jobs within this state.
Source: official Michigan text · Last verified 2026-08-27
Frequently Asked Questions About Michigan § 125.2055
What does Michigan Compiled Laws § 125.2055 cover?
Section 125.2055 ("Insurance, guarantees, or letters of credit; limitation; paramount priority.") is part of the Michigan Compiled Laws, the codified statutory law of Michigan. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Michigan § 125.2055?
A common citation format is "Michigan Compiled Laws § 125.2055" (Michigan). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Michigan law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Michigan official source linked on this page or consult a licensed Michigan attorney.
How does Michigan § 125.2055 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Michigan can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Michigan.