MCL - Act 481 of 2002
AN ACT to provide for and establish possession and ownership rights in special tools for use in the fabrication of metal parts under certain conditions; to require procedures to establish a lien; and to establish and maintain a lien on certain special tools.
History: 2002, Act 481, Imd. Eff. June 27, 2002
Document | Type | Description |
---|---|---|
Section 570.541 | Section | Short title. |
Section 570.542 | Section | Definitions. |
Section 570.543 | Section | Special tools; unclaimed possession; transfer of rights from customer to end user; destruction. |
Section 570.545 | Section | Transfer of rights to end user; notice; waiting period. |
Section 570.547 | Section | Return receipt of notice; possession unclaimed; transfer. |
Section 570.549 | Section | Retroactive application of waiting period. |
Section 570.551 | Section | Applicability and construction of MCL 570.543, 570.545, 570.547, and 570.549. |
Section 570.553 | Section | Lien; possession. |
Section 570.555 | Section | Enforcement of lien; notice. |
Section 570.557 | Section | Sale of special tool at public auction; conditions. |
Section 570.559 | Section | Sale of special tool at public auction; notice; information; notice nondeliverable; dispute. |
Section 570.561 | Section | Payment of proceeds to prior lienholder; payment of amount to end user possessing lien or to customer. |
Section 570.563 | Section | Information recorded by special tool builder; filing financial statement; constructive notice of lien on special tool; attachment; duration of lien; priority. |
Section 570.565 | Section | Enforcement of lien; notice. |
Section 570.567 | Section | Rights of possession. |
Section 570.569 | Section | Sale of special tool with lien asserted. |
Section 570.571 | Section | Sale of special tool; use of excess proceeds; prohibition. |