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 […]
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 […]