Michigan Laws 445.1459 – Security interest in inventory not affected
Current as of: 2024 | Check for updates
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Terms Used In Michigan Laws 445.1459
- Dealer: means a person engaged in the business of the retail sale of farm tractors and equipment, utility tractors and equipment, or the attachments to or repair parts for that equipment. See Michigan Laws 445.1452
- Inventory: means farm tractors, utility tractors, equipment, and accessories for attachments to and repair parts for those tractors and that equipment. See Michigan Laws 445.1452
- Person: means a sole proprietorship, partnership, corporation, or any other form of business organization. See Michigan Laws 445.1452
- Supplier: means a manufacturer, wholesaler, or distributor of farm and utility tractors and farm and utility equipment, or the attachments to or repair parts for that equipment. See Michigan Laws 445.1452
The provisions of this act shall not be construed to affect in any way any security interest that any financial institution, person, or supplier has in the inventory of the dealer.