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Form a Business

Guaranty deposit; approval of terms and conditions.

MCL 460.651
in effect
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460.651. Guaranty deposit; approval of terms and conditions. Sec. 1. A public utility regulated by the Michigan public service commission may require a ratepayer to pay a deposit as a guaranty for the payment of the utility's services. In the absence of specific rules adopted by the commission, the terms and conditions for a guaranty deposit required by a utility must be approved by the commission. 1921, Act 347, Eff. Aug. 18, 1921; CL 1929, 11108; CL 1948, 460.651; Am. 1988, Act 168, Imd. Eff. June 17, 1988
Source: Michigan Legislature (legislature.mi.gov)URL: https://legislature.mi.gov/Laws/MCL?objectName=mcl-460-651Fetched: 10/20/2026

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