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 […]
Section 567.242 – Liquidation or Conversion of Property Into Money; Receipt of Dividends, Interest, or Other Increments.
567.242 Liquidation or conversion of property into money; receipt of dividends, interest, or other increments. Sec. 22. If property other than money is paid or delivered to the administrator under this act, the owner is entitled to receive from the administrator any dividends, interest, or other increments realized or accruing on the property at or […]
Section 567.228b – Demutualization of Insurance Company; Property; Presumption; Report; Definition.
567.228b Demutualization of insurance company; property; presumption; report; definition. Sec. 8b. (1) Property distributable in the course of the demutualization of an insurance company is presumed abandoned as follows: (a) Any funds, 2 years after the date of the demutualization, if the funds remain unclaimed and the owner has not otherwise communicated with the holder […]
Section 567.243 – Sale of Abandoned Property.
567.243 Sale of abandoned property. Sec. 23. (1) Except as provided in subsections (2) and (3), the administrator, not later than 3 years after the receipt of abandoned property, shall sell it to the highest bidder at public sale in whatever city in the state affords, in the judgment of the administrator, the most favorable […]
Section 567.229 – Unclaimed Deposit for Utility Services.
567.229 Unclaimed deposit for utility services. Sec. 9. A deposit, including any interest on the deposit, made by a subscriber with a utility to secure payment or any sum paid in advance for utility services to be furnished, less any lawful deductions, that remains unclaimed by the owner for more than 1 year after termination […]
Section 567.244 – Disposition of Funds; Deductions; Transfer of Funds to Senior Care Respite Fund.
567.244 Disposition of funds; deductions; transfer of funds to senior care respite fund. Sec. 24. (1) Except as otherwise provided by this section, the administrator shall promptly deposit in the general fund of this state all funds received under this act, including the proceeds from the sale of abandoned property under section 23. The administrator […]
Section 567.230 – Determination or Order by Court or Administrative Agency of Refund by Business Association.
567.230 Determination or order by court or administrative agency of refund by business association. Sec. 10. Except to the extent otherwise ordered by the court or administrative agency, any sum that a business association has been ordered to refund by a court or administrative agency that remains unclaimed by the owner for more than 1 […]
Section 567.245 – Claim of Interest in Property.
567.245 Claim of interest in property. Sec. 25. (1) A person, excluding another state, claiming an interest in any property paid or delivered to the administrator under this act, may file with the administrator a claim on a form prescribed by the administrator and verified by the claimant. (2) The administrator shall consider each claim […]
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 […]