Section 554.1067 – Promotion of Uniformity.
554.1067 Promotion of uniformity. Sec. 17. In applying and construing this uniform act, consideration must be given to the need to promote uniformity of the law with respect to its subject matter among states that enact it. History: 2022, Act 115, Eff. Sept. 22, 2022
Section 554.1068 – Electronic Signatures.
554.1068 Electronic signatures. Sec. 18. This act modifies, limits, or supersedes the electronic signatures in global and national commerce act, 15 USC 7001 to 7031, but does not modify, limit, or supersede 15 USC 7001(c), or authorize electronic delivery of any of the notices described in 15 USC 7003(b). History: 2022, Act 115, Eff. Sept. […]
Section 554.1069 – Applicability of Act.
554.1069 Applicability of act. Sec. 19. (1) Except as otherwise provided in this section, this act governs the enforcement of an assignment of rents and the perfection and priority of a security interest in rents, even if the document creating the assignment was signed and delivered before the effective date of this act. (2) This […]
Section 554.1070 – Repeal of Certain Acts.
554.1070 Repeal of certain acts. Sec. 20. The following acts are repealed: (a) 1925 PA 228, MCL 554.211 to 554.214. (b) 1953 PA 210, MCL 554.231 to 554.233. History: 2022, Act 115, Eff. Sept. 22, 2022
Section 554.1066 – Priority Subject to Subordination.
554.1066 Priority subject to subordination. Sec. 16. This act does not preclude subordination by agreement as to rents or proceeds. History: 2022, Act 115, Eff. Sept. 22, 2022
Section 554.1057 – Appointment of Receiver; Petition; Priority of Receivers.
554.1057 Appointment of receiver; petition; priority of receivers. Sec. 7. (1) An assignee is entitled to the appointment of a receiver for the real property subject to the assignment of rents if either of the following applies: (a) The assignor is in default and any of the following apply: (i) The assignor has agreed in […]
Section 554.1058 – Demand Notice to Assignor for Collection of Rents; Notification Requirements.
554.1058 Demand notice to assignor for collection of rents; notification requirements. Sec. 8. (1) Upon the assignor’s default, or as otherwise agreed by the assignor, the assignee may give the assignor a notice demanding that the assignor pay over the proceeds of any rents that the assignee is entitled to collect under section 6. The […]
Section 554.1059 – Demand Notice to Tenant for Payment of Rents; Notification Requirements.
554.1059 Demand notice to tenant for payment of rents; notification requirements. Sec. 9. (1) Upon the assignor’s default, or as otherwise agreed by the assignor, the assignee may give to a tenant of the real property a notification demanding that the tenant pay to the assignee all unpaid accrued rents and all unaccrued rents as […]
Section 554.1060 – Notification to Pay Rents to Person Other Than Landlord; Form.
554.1060 Notification to pay rents to person other than landlord; form. Sec. 10. No particular phrasing is required for the notification specified in section 9. However, the following form of notification, when properly completed, is sufficient to satisfy the requirements of section 9: NOTIFICATION TO PAY RENTS TO PERSON OTHER THAN LANDLORD Your landlord, ______________, […]
Section 554.1061 – Effect of Enforcement of Assignments of Rent.
554.1061 Effect of enforcement of assignments of rent. Sec. 11. The enforcement of an assignment of rents by 1 or more of the methods identified in sections 7, 8, and 9, the application of proceeds by the assignee under section 12 after enforcement, the payment of expenses under section 13, or an action under section […]