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Form FIS0517 Alternative Bond in Lieu of Michigan Based Trust Account - Michigan
What Is Form FIS0517?
This is a legal form that was released by the Michigan Department of Insurance and Financial Services - a government authority operating within Michigan. As of today, no separate filing guidelines for the form are provided by the issuing department.
FAQ
Q: What is Form FIS0517?
A: Form FIS0517 is an alternative bond in lieu of a Michigan based trust account.
Q: What is a Michigan based trust account?
A: A Michigan based trust account is a type of financial account used for holding client funds in trust by certain professionals like attorneys and real estate agents in Michigan.
Q: What is an alternative bond?
A: An alternative bond is a financial guarantee provided by a bonding company in place of a Michigan based trust account.
Q: Why would someone choose an alternative bond?
A: Someone may choose an alternative bond if they are unable or unwilling to open a Michigan based trust account but still need to provide a financial guarantee for their clients' funds.
Q: How does Form FIS0517 work?
A: Form FIS0517 is the official form to be completed and submitted to the State of Michigan to request approval for using an alternative bond instead of a Michigan based trust account.
Form Details:
- Released on August 1, 2016;
- The latest edition provided by the Michigan Department of Insurance and Financial Services;
- Easy to use and ready to print;
- Quick to customize;
- Compatible with most PDF-viewing applications;
- Fill out the form in our online filing application.
Download a fillable version of Form FIS0517 by clicking the link below or browse more documents and templates provided by the Michigan Department of Insurance and Financial Services.
Download Form FIS0517 Alternative Bond in Lieu of Michigan Based Trust Account - Michigan
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