Michigan Chapter 567 — Escheats

52 sections hosted, reproduced from the official public-domain source.

Mich. Comp. Laws § 567.221— Short title
Mich. Comp. Laws § 567.222— Definitions
Mich. Comp. Laws § 567.223— Unclaimed property held in ordinary course of business; presumption
Mich. Comp. Laws § 567.224— Unclaimed property; conditions; requirements
Mich. Comp. Laws § 567.224a— Exception
Mich. Comp. Laws § 567.225— Outstanding travelers checks, money orders, or similar written instruments
Mich. Comp. Laws § 567.226— Outstanding checks, drafts, or similar instruments
Mich. Comp. Laws § 567.227— Demand, savings, or matured time deposit
Mich. Comp. Laws § 567.228— Unclaimed life or endowment insurance policy or annuity contract
Mich. Comp. Laws § 567.228a— Unclaimed prepaid funeral contract
Mich. Comp. Laws § 567.228b— Demutualization of insurance company; property; presumption; report; definition
Mich. Comp. Laws § 567.229— Unclaimed deposit for utility services
Mich. Comp. Laws § 567.230— Determination or order by court or administrative agency of refund by business association
Mich. Comp. Laws § 567.231a— Abandonment of ownership interest; exceptions
Mich. Comp. Laws § 567.232— Unclaimed property from dissolved business association
Mich. Comp. Laws § 567.233— Property held in fiduciary capacity
Mich. Comp. Laws § 567.234— Property held by court, governmental agency, or public corporation or authority
Mich. Comp. Laws § 567.235— Gift certificate, gift card, or credit memo; presumption of abandonment; considered as used or claimed; presumption of amount abandoned; act inapplicable to gift certificate defined in MCL 445.903e
Mich. Comp. Laws § 567.236— Unpaid wages
Mich. Comp. Laws § 567.237— Property held in safe deposit box or repository
Mich. Comp. Laws § 567.237a— Dormancy period for military personnel
Mich. Comp. Laws § 567.238— Report of presumed abandoned property; duties of property holder; applicability of certain provisions to owners of property on active duty military service
Mich. Comp. Laws § 567.239— Notice; publication in newspaper; requirements
Mich. Comp. Laws § 567.240— Payment or delivery of abandoned property to administrator; duplicate certificate
Mich. Comp. Laws § 567.241— Payment or delivery of abandoned property to administrator; rights of property holder
Mich. Comp. Laws § 567.242— Liquidation or conversion of property into money; receipt of dividends, interest, or other increments
Mich. Comp. Laws § 567.243— Sale of abandoned property
Mich. Comp. Laws § 567.244— Disposition of funds; deductions; transfer of funds to senior care respite fund
Mich. Comp. Laws § 567.245— Claim of interest in property
Mich. Comp. Laws § 567.246— Claim of interest in property by another state
Mich. Comp. Laws § 567.247— Action to establish claim in circuit court
Mich. Comp. Laws § 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
Mich. Comp. Laws § 567.249— Determination of insubstantial commercial value; destruction or disposition of property
Mich. Comp. Laws § 567.250— Expiration of time period specified by contract, statute, or court order; exception; commencement of action or proceeding
Mich. Comp. Laws § 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
Mich. Comp. Laws § 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
Mich. Comp. Laws § 567.251b— Streamlined audit process; election; audit
Mich. Comp. Laws § 567.252— Maintenance of records; required time periods
Mich. Comp. Laws § 567.253— Enforcement of action; jurisdiction
Mich. Comp. Laws § 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
Mich. Comp. Laws § 567.255— Failure to pay or deliver property; penalties; waiver
Mich. Comp. Laws § 567.256— Agreement to compensate for recovery of property; enforcement; agreement between locator and apparent unclaimed property owner
Mich. Comp. Laws § 567.256a— Receipt of unclaimed property account information by locator; value; format; registration of locator; prohibition
Mich. Comp. Laws § 567.257— Property held, due, and owing in foreign country; applicability of act
Mich. Comp. Laws § 567.257a— Exemptions; "association" defined
Mich. Comp. Laws § 567.258— Duty arising before effective date of act
Mich. Comp. Laws § 567.259— Administrator as successor to state board of escheats
Mich. Comp. Laws § 567.260— Rules
Mich. Comp. Laws § 567.261— Applicability and construction of act
Mich. Comp. Laws § 567.262— Applicability of act to property subject to another statute
Mich. Comp. Laws § 567.264— Repeal of MCL 567.11 to 567.76
Mich. Comp. Laws § 567.265— Effective date