Act No. 677
Public Acts of 2002
Approved by the Governor
December 25, 2002
Filed with the Secretary of State
December 30, 2002
EFFECTIVE DATE: December 30, 2002
STATE OF MICHIGAN
REGULAR SESSION OF 2002
Introduced by Rep. Bisbee
ENROLLED HOUSE BILL No. 5540
AN ACT to amend 1995 PA 29, entitled "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," by amending section 16 (MCL 567.236).
The People of the State of Michigan enact:
Sec. 16. (1) Unpaid wages greater than $50.00, including wages represented by unpresented payroll checks greater than $50.00, owing in the ordinary course of the holder's business that remain unclaimed by the owner for more than 1year after becoming payable are presumed abandoned.
(2) Unpaid wages of $50.00 or less owing in the ordinary course of the holder's business that remain unclaimed by the owner for more than 1 year after becoming payable are not subject to this act.
This act is ordered to take immediate effect.
Clerk of the House of Representatives.
Secretary of the Senate.