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 […]
Section 567.251a – Failure of Holder to Report or Deliver Unclaimed Property; Notice of Examination Determination; Request for Reconsideration; Notice of Appeal; Hearing; Decision; Filing Action in Circuit Court; Waiver of Penalties or Interest; “Notice of Examination Determination” Defined.
567.251a Failure of holder to report or deliver unclaimed property; notice of examination determination; request for reconsideration; notice of appeal; hearing; decision; filing action in circuit court; waiver of penalties or interest; “notice of examination determination” defined. Sec. 31a. (1) If the administrator determines that a holder has failed to report or deliver to the […]
Section 567.237 – Property Held in Safe Deposit Box or Repository.
567.237 Property held in safe deposit box or repository. Sec. 17. All property held in a safe deposit box or any other safekeeping repository in this state in the ordinary course of the holder’s business and proceeds resulting from the sale of the property permitted by law, that remain unclaimed by the owner for more […]
Section 567.238 – Report of Presumed Abandoned Property; Duties of Property Holder; Applicability of Certain Provisions to Owners of Property on Active Duty Military Service.
567.238 Report of presumed abandoned property; duties of property holder; applicability of certain provisions to owners of property on active duty military service. Sec. 18. (1) A person holding property presumed abandoned and subject to this state’s custody as unclaimed property under this act shall report to the administrator concerning the property as provided in […]
Section 567.239 – Notice; Publication in Newspaper; Requirements.
567.239 Notice; publication in newspaper; requirements. Sec. 19. (1) The administrator shall cause a notice to be published once every 6 months in a newspaper that has statewide circulation. (2) The published notice shall be entitled “notice to persons and entities who may be owners of abandoned property” and contain all of the following: (a) […]
Section 567.240 – Payment or Delivery of Abandoned Property to Administrator; Duplicate Certificate.
567.240 Payment or delivery of abandoned property to administrator; duplicate certificate. Sec. 20. (1) A person who is required to file a report under section 18 shall at the time for filing the report pay or deliver to the administrator all abandoned property that is required to be reported under section 18 or any balance […]
Section 567.241 – Payment or Delivery of Abandoned Property to Administrator; Rights of Property Holder.
567.241 Payment or delivery of abandoned property to administrator; rights of property holder. Sec. 21. (1) Upon the payment or delivery of property to the administrator, the state assumes custody and responsibility for the safekeeping of the property. A person who pays or delivers property to the administrator in good faith is relieved of all […]
Section 567.228a – Unclaimed Prepaid Funeral Contract.
567.228a Unclaimed prepaid funeral contract. Sec. 8a. (1) Funds held by a provider under the prepaid funeral contract funding act, 1986 PA 255, MCL 328.211 to 328.235, that remain unclaimed for a period of 3 years after the death of the contract beneficiary or, if no contract beneficiary has been designated under the prepaid funeral […]