UNIFORM UNCLAIMED PROPERTY ACT
Act 29 of 1995
AN ACT concerning unclaimed property; to provide for the reporting and disposition of unclaimed property; to make uniform the law concerning unclaimed property; to prescribe the powers and duties of certain state agencies and officials; to prescribe penalties and provide remedies; and to repeal acts and parts of acts.
History: 1995, Act 29, Eff. Mar. 28, 1996
© 2009 Legislative Council, State of Michigan
The People of the State of Michigan enact:
| Section 567.221 | Section | Short title. |
| Section 567.222 | Section | Definitions. |
| Section 567.223 | Section | Unclaimed property held in ordinary course of business; presumption. |
| Section 567.224 | Section | Unclaimed property; conditions; requirements. |
| Section 567.225 | Section | Outstanding travelers checks, money orders, or similar written instruments. |
| Section 567.226 | Section | Outstanding checks, drafts, or similar instruments. |
| Section 567.227 | Section | Demand, savings, or matured time deposit. |
| Section 567.228 | Section | Unclaimed life or endowment insurance policy or annuity contract. |
| Section 567.228a | Section | Unclaimed prepaid funeral contract. |
| Section 567.228b | Section | Demutualization of insurance company; property; presumption; report; definition. |
| Section 567.229 | Section | Unclaimed deposit for utility services. |
| Section 567.230 | Section | Determination or order by court or administrative agency of refund by business association. |
| Section 567.231 | Section | Repealed. 2004, Act 385, Imd. Eff. Oct. 12, 2004. |
| Section 567.231a | Section | Abandonment of ownership interest; exceptions. |
| Section 567.232 | Section | Unclaimed property from dissolved business association. |
| Section 567.233 | Section | Property held in fiduciary capacity. |
| Section 567.234 | Section | Property held by court, governmental agency, or public corporation or authority. |
| Section 567.235 | Section | 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. |
| Section 567.236 | Section | Unpaid wages. |
| Section 567.237 | Section | Property held in safe deposit box or repository. |
| Section 567.238 | Section | Report of presumed abandoned property; duties of property holder; administration and public awareness of unclaimed property filing and compliance requirements; applicability of certain provisions to owners of property on active duty military service. |
| Section 567.239 | Section | Notice; publication in newspaper; requirements. |
| Section 567.240 | Section | Payment or delivery of abandoned property to administrator; duplicate certificate. |
| Section 567.241 | Section | Payment or delivery of abandoned property to administrator; rights of property holder. |
| Section 567.242 | Section | Liquidation or conversion of property into money; receipt of dividends, interest, or other increments. |
| Section 567.243 | Section | Sale of abandoned property. |
| Section 567.244 | Section | Disposition of funds. |
| Section 567.245 | Section | Claim of interest in property. |
| Section 567.246 | Section | Claim of interest in property by another state. |
| Section 567.247 | Section | Action to establish claim in circuit court. |
| Section 567.248 | Section | Property declined by administrator; destruction or disposition of property by holder; failure of owner to act in relation to property for 2 years. |
| Section 567.249 | Section | Determination of insubstantial commercial value; destruction or disposition of property. |
| Section 567.250 | Section | Expiration of time period specified by contract, statute, or court order; exception; commencement of proceeding. |
| Section 567.251 | Section | Verified report of whether unclaimed property is being held; examination of records to determine compliance with act; notice; costs of examination; failure to maintain records; insufficient records for preparation of report. |
| Section 567.252 | Section | Maintenance of records; required time periods. |
| Section 567.253 | Section | Enforcement of action; jurisdiction. |
| Section 567.254 | Section | 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. |
| Section 567.255 | Section | Failure to pay or deliver property; penalties; waiver. |
| Section 567.256 | Section | Agreement to compensate for recovery of property; enforcement. |
| Section 567.257 | Section | Property held, due, and owing in foreign country; applicability of act. |
| Section 567.257a | Section | Exemptions; "association" defined. |
| Section 567.258 | Section | Duty arising before effective date of act. |
| Section 567.259 | Section | Administrator as successor to state board of escheats. |
| Section 567.260 | Section | Rules. |
| Section 567.261 | Section | Applicability and construction of act. |
| Section 567.262 | Section | Applicability of act to property subject to another statute. |
| Section 567.263 | Section | Repealed. 1997, Act 195, Imd. Eff. Dec. 30, 1997. |
| Section 567.264 | Section | Repeal of MCL 567.11 to 567.76. |
| Section 567.265 | Section | Effective date. |
