Section 570.555 – Enforcement of Lien; Notice.
570.555 Enforcement of lien; notice. Sec. 15. Before enforcing a lien granted to an end user under section 13, notice in writing shall be given to the customer, delivered personally or sent by registered mail to the last known address of the customer. The notice shall state that a lien is claimed for the amount […]
Section 570.557 – Sale of Special Tool at Public Auction; Conditions.
570.557 Sale of special tool at public auction; conditions. Sec. 17. If the end user has not been paid the amount due within 90 days after the notice has been received by the customer provided in section 15, the end user may sell the special tool at a public auction if both of the following […]
Section 570.559 – Sale of Special Tool at Public Auction; Notice; Information; Notice Nondeliverable; Dispute.
570.559 Sale of special tool at public auction; notice; information; notice nondeliverable; dispute. Sec. 19. (1) Before an end user may sell the special tool, the end user shall notify, by registered mail, return receipt requested, the customer and any person whose security interest is perfected by filing. The notice shall include the following information: […]
Section 570.561 – Payment of Proceeds to Prior Lienholder; Payment of Amount to End User Possessing Lien or to Customer.
570.561 Payment of proceeds to prior lienholder; payment of amount to end user possessing lien or to customer. Sec. 21. (1) If the sale is for a sum greater than the amount of the lien, the proceeds shall first be paid to the prior lienholder who has a perfected lien in an amount sufficient to […]
Section 570.541 – Short Title.
570.541 Short title. Sec. 1. This act shall be known and may be cited as the “special tools lien act”. History: 2002, Act 481, Imd. Eff. June 27, 2002
Section 570.542 – Definitions.
570.542 Definitions. Sec. 2. For purposes of this act: (a) “Customer” means a person who causes a special tool builder to design, develop, manufacture, assemble for sale, or otherwise make a special tool for use in the design, development, manufacture, assembly, or fabrication of metal parts, or a person who causes an end user to […]
Section 570.543 – Special Tools; Unclaimed Possession; Transfer of Rights From Customer to End User; Destruction.
570.543 Special tools; unclaimed possession; transfer of rights from customer to end user; destruction. Sec. 3. Unless otherwise agreed in writing, if a customer does not claim possession of a special tool from the end user within 3 years from the last use with that end user of the special tool, all rights, title, and […]