City of Holland, MI Article IV Escrow of Fire Insurance Proceeds

Sec. 11-28 Definitions.

[Ord. No. 893; amended 1-17-2018 by Ord. No. 1724]

The City shall proceed under provisions of Michigan Compiled Law (MCL) § 500.2845 regarding escrow of insurance payments due to fire or explosion and loss to insured real property.

Sec. 11-29 through Sec. 11-35. (Reserved) [1]

[1] [Editor's Note: Former Sections 11-29., Insurer to withhold percentage of settlement proceeds; notice; 11-30., Escrow account procedure; 11-31., Receipt of amount withheld; interest; commingling of funds; release of funds to satisfy mortgages; 11-32., Release of funds to insured; 11-33., Use of retained proceeds upon failure to show reasonable proof.; 11-34., Applicability of article.; and 11-35., Severability; saving clause., were repealed 1-17-2018 by Ord. No. 1724]