Michigan Compiled Laws
Act 481 of 2002 - Special Tools Lien Act (570.541 - 570.571)
Section 570.549 - Retroactive Application of Waiting Period.

Sec. 9.
The 3-year waiting period provided in section 3 shall apply retroactively in the case of a special tool in the possession of an end user on the effective date of this act.
History: 2002, Act 481, Imd. Eff. June 27, 2002

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Structure Michigan Compiled Laws

Michigan Compiled Laws

Chapter 570 - Liens

Act 481 of 2002 - Special Tools Lien Act (570.541 - 570.571)

Section 570.541 - Short Title.

Section 570.542 - Definitions.

Section 570.543 - Special Tools; Unclaimed Possession; Transfer of Rights From Customer to End User; Destruction.

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 570.559 - Sale of Special Tool at Public Auction; Notice; Information; Notice Nondeliverable; Dispute.

Section 570.561 - Payment of Proceeds to Prior Lienholder; Payment of Amount to End User Possessing Lien or to Customer.

Section 570.563 - Information Recorded by Special Tool Builder; Filing Financial Statement; Constructive Notice of Lien on Special Tool; Attachment; Duration of Lien; Priority.

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.