Section 445.620b – Sale of Die, Mold, or Form; Notice of Intent.
445.620b Sale of die, mold, or form; notice of intent. Sec. 10b. (1) Before a moldbuilder may sell a die, mold, or form for which a lien is claimed and for which the required notice has been sent under section 10, the moldbuilder shall notify the customer, the molder, and all other persons that have […]
Section 445.620c – Sale; Proceeds; Prohibition.
445.620c Sale; proceeds; prohibition. Sec. 10c. (1) If the proceeds of the sale are greater than the amount of the lien, the proceeds shall first be paid to the moldbuilder in the amount necessary to satisfy the lien. All proceeds in excess of the lien shall be paid to the customer. (2) A sale shall […]
Section 445.611 – Definitions.
445.611 Definitions. Sec. 1. For purposes of this act: (a) “Customer” means a person who causes a moldbuilder to fabricate, cast, or otherwise make a die, mold, or form for use in the manufacture, assembly, or fabrication of plastic parts, or a person who causes a molder to use a die, mold, or form to […]
Section 445.612 – Transfer of Rights, Title, and Interest in Die, Mold, or Form to Molder; Purpose.
445.612 Transfer of rights, title, and interest in die, mold, or form to molder; purpose. Sec. 2. Unless otherwise agreed in writing, if a customer does not claim possession of a die, mold, or form from the molder within 3 years from the last use of the die, mold, or form, all rights, title, and […]
Section 445.613 – Notice of Intention to Terminate Customer’s Rights, Title, and Interest in Die, Mold, or Form.
445.613 Notice of intention to terminate customer’s rights, title, and interest in die, mold, or form. Sec. 3. After the expiration of the 3-year period set forth in section 2, if a molder chooses to have all rights, title, and interest in a die, mold, or form transferred to the molder by operation of law, […]
Section 445.614 – Effect of Customer’s Failure to Claim Possession of Die, Mold, or Form or to Make Storage Arrangements; Construction of Section.
445.614 Effect of customer’s failure to claim possession of die, mold, or form or to make storage arrangements; construction of section. Sec. 4. If a customer does not claim possession of the die, mold, or form within 120 days after the date the molder receives the return receipt of the notice sent pursuant to section […]
Section 445.615 – Retroactive Application of 3-Year Waiting Period.
445.615 Retroactive application of 3-year waiting period. Sec. 5. The 3-year waiting period provided in section 2 shall apply retroactively in the case of a die, mold, or form in the possession of a molder on the effective date of this act. History: 1981, Act 155, Eff. Jan. 1, 1982