If you are engaged as a manufactured housing retailer in Michigan you are required under Public Act 96 of 1987 to file a Michigan Uniform Manufactured Housing Retailers Consumer Deposit Bond as a condition of licensure.
A surety bond protects the party requesting the bond, the Obligee, against any financial losses as a result of poor financial decisions, damages, unethical decisions, or a failure to follow state and local laws on the part of you, the Principal. The Michigan Uniform Manufactured Housing Retailers Consumer Deposit Bond holds you accountable for your business decisions.
By possessing a Michigan Uniform Manufactured Housing Retailers Consumer Deposit Bond, you are telling your Obligee that you can be trusted as a Principal and that you stand behind your business decisions.