Sec. 7.
(1) An action under section 6 shall be commenced within 1 year after the date the commercial real estate broker's lien attaches.
(2) Failure to commence an action within the applicable time period under this section extinguishes the lien. A later claim of lien for the same commission or services shall not be made and shall not be the basis of an action filed under section 6.
History: 2010, Act 201, Imd. Eff. Oct. 5, 2010
Structure Michigan Compiled Laws
Act 201 of 2010 - Commercial Real Estate Broker's Lien Act (570.581 - 570.594)
Section 570.581 - Short Title.
Section 570.582 - Definitions.
Section 570.583 - Commercial Real Estate Broker's Lien; Availability.
Section 570.585 - Escrow Account; Establishment to Satisfy Lien; Release.
Section 570.586 - Action to Enforce Lien; Complaint.
Section 570.587 - Commencement of Action; Time Period.
Section 570.589 - Written Demand on Behalf of Owner of Commercial Real Estate; Service.
Section 570.590 - Condition Prohibiting Compensation; Release of Lien.
Section 570.591 - Payment of Claim or Failure to Commence Action; Release of Lien.
Section 570.592 - Partial Payment of Lien Claim; Partial Satisfaction and Release of Lien; Form.
Section 570.593 - Priority of Subsequently Recorded Mortgage; Condition.
Section 570.594 - Written Commission Agreement Signed After Effective Date of Act; Applicability.