Michigan Administrative Code
Department - Licensing and Regulatory Affairs
Bureau of Professional Licensing
Board of Residential Builders' and Maintenance And Alterations
Residential Builders and Maintenance and Alteration Contractors
Part 3 - OPERATIONS OF LICENSEES
Section R. 338.1535 - Financial statements

Rule 35. Upon notice by the department, a licensee shall submit within 30 days sworn financial statement showing the licensee's current financial status. The notice for a financial statement may be based upon an unsatisfied judgment, a lien filed against the licensee or the department's reasonable belief that the licensee does not have the financial resources to meet contractual obligations. The department's notice shall be in writing and may be served personally on the licensee or by certified mail sent to the licensee's last known business address on file with the department. A request for an extension of time shall be in writing and may be granted for good and sufficient cause.