Mich. Comp. Laws § 567.237

Current through Public Act 166 of the 2024 Legislative Session

Section 567.237 - Property held in safe deposit box or repository

Except as otherwise provided in section 17a, 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.

MCL 567.237

Amended by 2024, Act 101,s 7, eff. 7/23/2024, and applicable to property that is presumed abandoned and subject to this state's custody as unclaimed property on or after 7/23/2024.

Amended by 2010, Act 197,s 9, eff. 10/5/2010.

1995, Act 29, Eff. 3/28/1996.

2010, Act 197, Enacting section 1, states, "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."