Section 567.231 – Repealed. 2004, Act 385, Imd. Eff. Oct. 12, 2004.
567.231 Repealed. 2004, Act 385, Imd. Eff. Oct. 12, 2004. Compiler’s Notes: The repealed section pertained to ownership interest in business association.
Section 567.231a – Abandonment of Ownership Interest; Exceptions.
567.231a Abandonment of ownership interest; exceptions. Sec. 11a. (1) Any stock, share, or other intangible ownership interest in a business association, the existence of which is evidenced by records available to the association, is presumed abandoned and, with respect to the interest, the association is the holder, if both of the following apply: (a) The […]
Section 567.232 – Unclaimed Property From Dissolved Business Association.
567.232 Unclaimed property from dissolved business association. Sec. 12. Property distributable in the course of a dissolution of a business association that remains unclaimed by the owner for more than 1 year after the date specified for final distribution is presumed abandoned. History: 1995, Act 29, Eff. Mar. 28, 1996
Section 567.233 – Property Held in Fiduciary Capacity.
567.233 Property held in fiduciary capacity. Sec. 13. (1) Property and any income or increment derived therefrom held in a fiduciary capacity for the benefit of another person is presumed abandoned unless the owner, within 3 years after it has become payable or distributable, has increased or decreased the principal, accepted payment of principal or […]
Section 567.222 – Definitions.
567.222 Definitions. Sec. 2. As used in this act, unless the context otherwise requires: (a) “Administrator” means the state treasurer. (b) “Apparent owner” means the person whose name appears on the records of the holder as the person entitled to property held, issued, or owing by the holder. (c) “Attorney general” means the department of […]
Section 567.223 – Unclaimed Property Held in Ordinary Course of Business; Presumption.
567.223 Unclaimed property held in ordinary course of business; presumption. Sec. 3. (1) Except as otherwise provided by this act, all property, including any income or increment derived from the property, less any lawful charges, that is held, issued, or owing in the ordinary course of a holder’s business and remains unclaimed by the owner […]
Section 567.224 – Unclaimed Property; Conditions; Requirements.
567.224 Unclaimed property; conditions; requirements. Sec. 4. Unless otherwise provided in this act or by law, property is subject to the custody of this state as unclaimed property, if the conditions raising a presumption of abandonment under sections 3 and 6 to 17 are satisfied and 1 or more of the following requirements are met: […]
Section 567.224a – Exception.
567.224a Exception. Sec. 4a. (1) Except as provided in subsection (2), property is not subject to the custody of this state as unclaimed property if its value is $25.00 or less. (2) Subsection (1) does not apply to property described in section 11a or dividends. History: Add. 2015, Act 242, Imd. Eff. Dec. 22, 2015 […]
Section 567.225 – Outstanding Travelers Checks, Money Orders, or Similar Written Instruments.
567.225 Outstanding travelers checks, money orders, or similar written instruments. Sec. 5. (1) Subject to subsection (4), any sum payable on a travelers check that is outstanding for more than 15 years after its issuance is presumed abandoned unless the owner, within 15 years, has communicated in writing with the issuer concerning it or otherwise […]
Section 567.226 – Outstanding Checks, Drafts, or Similar Instruments.
567.226 Outstanding checks, drafts, or similar instruments. Sec. 6. (1) Any sum payable on a check, draft, or similar instrument, except those subject to section 5, on which a banking or financial organization is directly liable, including a cashier’s check and a certified check, which is outstanding for more than 3 years after it was […]