Are their laws in my governing apartment security deposits being put in escrow? [Archive]

View Full Version : Are their laws in my governing apartment security deposits being put in escrow?

Haier

Jul 19, 2011, 11:20 AM

Are their any laws in MI governing apartment security deposits being put in escrow?

ballengerb1

Jul 19, 2011, 11:25 AM

Yes Michigan Legislature - Act 348 of 1972 (http://www.legislature.mi.gov/(S(urh5cg55iwkelx55nk0utq45))/mileg.aspx?page=getObject&objectname=mcl-act-348-of-1972) The money must be deposited in a bank or credit union and remains your money.