Michigan License Law
In Michigan, the Real Estate Recovery Fund is used to:
APay LARA's administrative expenses
BCompensate consumers who suffer losses caused by licensed real estate professionals and cannot collect from the licensee✓ Correct
CFund real estate education programs
DPay commissions when brokers go out of business
Explanation
Michigan's Real Estate Recovery Fund provides compensation to consumers who suffer monetary damages from a licensed real estate agent's fraud or misrepresentation when the licensee cannot pay the judgment.
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