Section 600.557b - Senior judge civil action fund(1) There is established in the circuit court in each judicial circuit a senior judge civil action fund. The senior judge civil action fund shall be used to pay the compensation and costs of actions under this section. The following money shall be deposited in the senior judge civil action fund: (a) A sum of money equal to the estimated compensation that will be due the senior judge for his or her services, costs, and actual and necessary expenses as provided in section 557(3)(b), (c), (d), and (f).(b) A sum of money equal to the estimated costs of trial as provided in section 557(3)(d) and (f).(c) Such other funds as provided by law or by court rule.(2) Before receiving payment from the fund, a senior judge shall file a detailed statement of services rendered and costs incurred. The chief judge of the court in which the action is pending shall review and approve the statement. The clerk shall reimburse the senior judge for actual and necessary expenses and for services according to the hourly rate provided for in the stipulation, up to the amount deposited in the fund by the parties to the action.(3) The senior judge may file for interim payments and need not await the conclusion of the trial to be partially compensated or reimbursed for expenses.(4) If the chief judge of the court in which the action is pending considers at any time that the parties have not deposited a sufficient sum to cover the compensation that will be due the senior judge or for the costs of the trial, the chief judge may order the parties to deposit an additional amount to provide for compensation and costs. The chief judge may adjourn the trial until the additional amount is deposited. If the designated additional amount is not paid within 10 days after entry of an order for the additional amount, the chief judge may take such appropriate actions as considered necessary, including returning the action to the status it had before the filing of the stipulation, for failure to comply with the order for the additional amount.(5) Money deposited in the senior judge civil action fund in excess of the actual compensation and costs of the trial shall be refunded to the parties within a reasonable time after final judgment.Add. 1990, Act 185, Eff. 10/1/1990 .