Sec. 3.
Unless otherwise agreed in writing, if a customer does not claim possession of a special tool from the end user within 3 years from the last use with that end user of the special tool, all rights, title, and interest in the special tool may, at the option of the end user, be transferred by operation of law to the end user for purpose of destroying the special tool.
History: 2002, Act 481, Imd. Eff. June 27, 2002
Structure Michigan Compiled Laws
Act 481 of 2002 - Special Tools Lien Act (570.541 - 570.571)
Section 570.541 - Short Title.
Section 570.542 - Definitions.
Section 570.545 - Transfer of Rights to End User; Notice; Waiting Period.
Section 570.547 - Return Receipt of Notice; Possession Unclaimed; Transfer.
Section 570.549 - Retroactive Application of Waiting Period.
Section 570.551 - Applicability and Construction of MCL 570.543, 570.545, 570.547, and 570.549.
Section 570.553 - Lien; Possession.
Section 570.555 - Enforcement of Lien; Notice.
Section 570.557 - Sale of Special Tool at Public Auction; Conditions.
Section 570.565 - Enforcement of Lien; Notice.
Section 570.567 - Rights of Possession.
Section 570.569 - Sale of Special Tool With Lien Asserted.
Section 570.571 - Sale of Special Tool; Use of Excess Proceeds; Prohibition.