Section 567.260 – Rules.
567.260 Rules. Sec. 40. The administrator may promulgate rules necessary to carry out the provisions of this act under the administrative procedures act of 1969, Act No. 306 of the Public Acts of 1969, being sections 24.201 to 24.328 of the Michigan Compiled Laws. History: 1995, Act 29, Eff. Mar. 28, 1996
Section 567.261 – Applicability and Construction of Act.
567.261 Applicability and construction of act. Sec. 41. This act shall be applied and construed as to effectuate its general purpose to make uniform the law with respect to the subject of this act among states enacting it. History: 1995, Act 29, Eff. Mar. 28, 1996
Section 567.254 – Agreements With Other States to Exchange Information; Advisement and Consultation; Enforcement; Action Brought by Attorney General in Name of Another State; Action Brought in Another State in Name of Administrator.
567.254 Agreements with other states to exchange information; advisement and consultation; enforcement; action brought by attorney general in name of another state; action brought in another state in name of administrator. Sec. 34. (1) The administrator may enter into an agreement with another state to exchange information needed to enable this or another state to […]
Section 567.255 – Failure to Pay or Deliver Property; Penalties; Waiver.
567.255 Failure to pay or deliver property; penalties; waiver. Sec. 35. (1) A person who fails to pay or deliver property within the time prescribed by this act shall pay to the administrator interest at the current monthly rate of 1 percentage point above the adjusted prime rate per annum per month on the property […]
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 […]