Property Held in Safe Deposit Box or Repository - Mich. Comp. Laws Section 567.237
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Michigan Laws > Escheats > Property Held in Safe Deposit Box or Repository - Mich. Comp. Laws Section 567.237
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 than 3 years after the lease or rental period on the box or other repository has expired, are presumed abandoned.
History: 1995, Act 29, Eff. Mar. 28, 1996
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Am. 2010, Act 197, Imd. Eff. Oct. 5, 2010
Compiler's Notes: Enacting section 1 of Act 197 of 2010 provides:"Enacting section 1. This amendatory act applies to property presumed abandoned and subject to the state's custody as unclaimed property under this act reportable to the state for any period ending after June 30, 2010."
Section: 567.230 567.231a 567.232 567.233 567.234 567.235 567.236 567.237 567.238 567.239 567.240 567.241 567.242 567.243 567.244
Last modified: March 17, 2013
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