Michigan § 493.6 - Net worth; additional bond; filing.
Full text of Michigan Michigan Compiled Laws § 493.6 — Net worth; additional bond; filing., with citation guidance and answers to common questions.
§ 493.6. Net worth; additional bond; filing.
Every licensee shall maintain at all times net worth in the amount required under section 2.
If the commissioner determines at any time that any bond is insecure, exhausted, or otherwise of doubtful validity or collectability, the commissioner may require the licensee to obtain an additional bond in an amount of not more than $1,000.00. The licensee shall file the new bond within 10 days after the commissioner has issued written demand upon the licensee.
Frequently Asked Questions About Michigan § 493.6
What does Michigan Compiled Laws § 493.6 cover?
Section 493.6 ("Net worth; additional bond; filing.") 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 § 493.6?
A common citation format is "Michigan Compiled Laws § 493.6" (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 § 493.6 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.