Section 567.256 – Agreement to Compensate for Recovery of Property; Enforcement; Agreement Between Locator and Apparent Unclaimed Property Owner.
567.256 Agreement to compensate for recovery of property; enforcement; agreement between locator and apparent unclaimed property owner. Sec. 36. (1) An agreement to pay compensation to recover or assist in the recovery of property reported under section 18, made within 24 months after the date payment or delivery is made under section 20, is unenforceable. […]
Section 567.256a – Receipt of Unclaimed Property Account Information by Locator; Value; Format; Registration of Locator; Prohibition.
567.256a Receipt of unclaimed property account information by locator; value; format; registration of locator; prohibition. Sec. 36a. (1) The administrator may sell or otherwise provide unclaimed property account information to a locator for unclaimed accounts that remain unclaimed for not less than 24 months after the date payment or delivery is made under section 20 […]
Section 567.257 – Property Held, Due, and Owing in Foreign Country; Applicability of Act.
567.257 Property held, due, and owing in foreign country; applicability of act. Sec. 37. This act does not apply to any property held, due, and owing in a foreign country and arising out of a foreign transaction. History: 1995, Act 29, Eff. Mar. 28, 1996
Section 567.257a – Exemptions; “Association” Defined.
567.257a Exemptions; “association” defined. Sec. 37a. (1) Except with respect to property described in sections 7 and 17, this act does not apply to any credit balances, overpayments, deposits, refunds, discounts, rebates, credit memos, or unidentified remittances created on or after April 1, 2009 and issued, held, due, or owing in any transactions between 2 […]
Section 567.246 – Claim of Interest in Property by Another State.
567.246 Claim of interest in property by another state. Sec. 26. (1) At any time after property has been paid or delivered to the administrator under this act, another state may recover the property if 1 or more of the following requirements are met: (a) The property was subjected to custody by this state because […]
Section 567.247 – Action to Establish Claim in Circuit Court.
567.247 Action to establish claim in circuit court. Sec. 27. A person who is aggrieved by a decision of the administrator or whose claim has not been acted upon within 90 days after its filing may bring an action to establish the claim in the circuit court, naming the administrator as a defendant. The action […]
Section 567.248 – Property Declined by Administrator; Destruction or Disposition of Property by Holder; Failure of Owner to Act in Relation to Property for 2 Years.
567.248 Property declined by administrator; destruction or disposition of property by holder; failure of owner to act in relation to property for 2 years. Sec. 28. (1) The administrator may decline to receive property reported under this act that the administrator considers to have a value less than the expense of giving notice and of […]
Section 567.249 – Determination of Insubstantial Commercial Value; Destruction or Disposition of Property.
567.249 Determination of insubstantial commercial value; destruction or disposition of property. Sec. 29. If the administrator determines after investigation that any property delivered under this act has insubstantial commercial value, the administrator may destroy or otherwise dispose of the property at any time. An action or proceeding shall not be maintained against the state or […]
Section 567.250 – Expiration of Time Period Specified by Contract, Statute, or Court Order; Exception; Commencement of Action or Proceeding.
567.250 Expiration of time period specified by contract, statute, or court order; exception; commencement of action or proceeding. Sec. 30. (1) The expiration, before or after the effective date of this act, of any period of time specified by contract, statute, or court order, during which a claim for money or property can be made […]
Section 567.251 – Verified Report of Unclaimed Property Being Held; Examination of Records to Determine Compliance With Act; Notice; Audit; Incomplete Records; Cost of Examination; Failure to Maintain Records; Insufficient Records for Preparation of Report; Issuance of Check in Streamlined Process; “Substantially Complete Records” Defined.
567.251 Verified report of unclaimed property being held; examination of records to determine compliance with act; notice; audit; incomplete records; cost of examination; failure to maintain records; insufficient records for preparation of report; issuance of check in streamlined process; “substantially complete records” defined. Sec. 31. (1) The administrator may require a person who has not […]