(A) The township does hereby become a participating municipality in the program for the escrow of fire insurance as established by Public Act 495 of 1980; as amended by Public Act 216 of 1998, or as established by Public Act 217 of 1988, and does declare is intention to uniformly apply the provisions of Public Act 218 of 1956, being M.C.L.A. § 500.2845 or Public Act 218 of 1956, being M.C.L.A. § 500.2227 to all property within the township.
(B) The township official responsible for the administration of Public Act 218 of 1956, being M.C.L.A. § 500.2845 or Public Act 218 of 1956, being M.C.L.A. § 500.2227 and any rules promulgated by the Commissioner of Insurance is hereby designated as follows: Township Clerk.
(C) The Township Clerk shall establish an escrow account with Citizen’s Bank for the purpose of receiving and holding deposits of money received from insurers pursuant to Public Act 218 of 1956, being M.C.L.A. § 500.2845 or Public Act 218 of 1956, being M.C.L.A. § 500.2227, which account shall be separately maintained from all other accounts and may be an interest bearing account.
(Res. 159, passed 9-10-2001)