Michigan Compiled Laws

Mich. Comp. Laws § 554.604 (2026)

Security deposit, disposition; bond.

✓ current as of July 2026

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LANDLORD AND TENANT RELATIONSHIPS

Act 348 of 1972

554.604 Security deposit, disposition; bond.

Sec. 4.

(1) The security deposit shall be deposited in a regulated financial institution. A landlord may use the moneys so deposited for any purposes he desires if he deposits with the secretary of state a cash bond or surety bond written by a surety company licensed to do business in this state and acceptable to the attorney general to secure the entire deposits up to $50,000.00 and 25% of any amount exceeding $50,000.00. The attorney general may find a bond unacceptable based only upon reasonable criteria relating to the sufficiency of the bond, and shall notify the landlord in writing of his reasons for the unacceptability of the bond.

(2) The bond shall be for the benefit of persons making security deposits with the landlord. A person for whose benefit the bond is written or his legal representative may bring an action in the district, common pleas or municipal court where the landlord resides or does business for collection on the bond.

History: 1972, Act 348, Eff. Apr. 1, 1973

PopularName Notes:

Landlord-Tenant Act

Notes of Decisions

Cited in 4 cases, 2017–2018 · leading case: Mariah Wall v. Michigan Rental, 852 F.3d 492 (6th Cir. 2017).

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Mariah Wall v. Michigan Rental, 852 F.3d 492 (6th Cir. 2017). · cites it 2× “See Mich. Comp. Laws § 554.604 . The complaint and RICO case statement omit any claim that Alawi never put the deposits where he said he would.”

Mariah Wall v. Mich. Rental (6th Cir. 2017). · cites it 2× “See Mich. Comp. Laws § 554.604 . The complaint and RICO case statement omit any claim that Alawi never put the deposits where he said he would.”

Nathaniel E Chapman v. Zaki Jamil Alawi (Mich. Ct. App. 2018). “MCL 554.604(1), a provision of the LTRA, provides: The security deposit shall be deposited in a regulated financial institution.”

— Mich. Comp. Laws § 554.604(1) — 2 cases

Nathaniel E Chapman v. Zaki Jamil Alawi (Mich. Ct. App. 2018). “MCL 554.604(1), a provision of the LTRA, provides: The security deposit shall be deposited in a regulated financial institution.”

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