There is a newer version of the Michigan Compiled Laws
2006 Michigan Compiled Laws - Mich. Comp. Laws § 129.204 Bond, surety, obligee.
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Act 213 of 1963 129.204 Bond, surety, obligee. Sec. 4. A bond shall be executed by a surety company authorized to do business in this state. In the case of a contract of the state or a department, board, commission, institution or agency thereof the bonds shall be payable to the people of the state. In the case of all other contracts the bonds shall be payable to the governmental unit.
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