Michigan Laws 567.239 – Notice; publication in newspaper; requirements
Current as of: 2024 | Check for updates
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Terms Used In Michigan Laws 567.239
- Administrator: means the state treasurer. See Michigan Laws 567.222
- Owner: means a depositor, in the case of a deposit; a beneficiary, in case of a trust other than a deposit in trust; a creditor, claimant, or payee, in the case of other intangible property; or a person having a legal or equitable interest in property subject to this act. See Michigan Laws 567.222
- Person: means an individual, business association, state or other government, governmental subdivision or agency, public corporation, public authority, estate, trust, 2 or more persons having a joint or common interest, or any other legal or commercial entity. See Michigan Laws 567.222
- Property: means tangible or intangible personal property owned by a person. See Michigan Laws 567.222
(1) The administrator shall cause a notice to be published once every 6 months in a newspaper that has statewide circulation.
(2) The published notice shall be entitled “notice to persons and entities who may be owners of abandoned property” and contain all of the following:
(a) A statement of the number of new properties that have been added to the department of treasury website and that the list of new properties will be available for not less than 1 year.
(b) The department’s website address. The website shall enable persons and entities to search for their abandoned property.
(c) The department’s telephone number for persons and entities wishing to contact the department via telephone in search of their abandoned property.
(d) A statement that anyone interested in searching the department of treasury website may search the internet at his or her local public library.
(3) The website shall contain all of the following:
(a) The name of any person for whom property has been added to the unclaimed property division database.
(b) A statement that information concerning the property may be obtained by any person possessing an interest in the property by addressing an inquiry to the administrator.
(c) A claim form.
(d) A statement informing an owner of property held by the administrator how to file a claim with the administrator to receive his or her property.
(4) The administrator is not required to publish on the website any items of less than $50.00 unless the administrator considers publication of 1 or more of those items to be in the public interest.
(5) This section is not applicable to sums payable on travelers checks, money orders, and other written instruments presumed abandoned under section 5.