Michigan § 129.203 - Payment bond; amount; purpose.
Full text of Michigan Michigan Compiled Laws § 129.203 — Payment bond; amount; purpose., with citation guidance and answers to common questions.
§ 129.203. Payment bond; amount; purpose.
The payment bond shall be in an amount fixed by the governmental unit but not less than 25% of the contract amount solely for the protection of claimants, as defined in section 6, supplying labor or materials to the principal contractor or his subcontractors in the prosecution of the work provided for in the contract.
Frequently Asked Questions About Michigan § 129.203
What does Michigan Compiled Laws § 129.203 cover?
Section 129.203 ("Payment bond; amount; purpose.") 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 § 129.203?
A common citation format is "Michigan Compiled Laws § 129.203" (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 § 129.203 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.