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Michigan Construction Trust Funds: Segregation and Control

July 16, 2026

Michigan law does not require a separate bank account for every construction project, but contractors must protect project funds and be able to show where the money went.

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Buildplus is a financial technology company and is not a bank.Banking services are provided by Core Bank, Member FDIC. Buildplus is not a FDIC insured institution and the FDIC’s deposit insurance coverage only protects against the failure of an FDIC insured depository institution. Payment features are subject to account verification and applicable account limits.