Michigan Laws 324.21516 – Assignment or transfer of approved claim; notice
Current as of: 2023 | Check for updates
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Terms Used In Michigan Laws 324.21516
- Administrator: means the administrator of the authority as provided for in section 21525. See Michigan Laws 324.21502
- Approved claim: means a claim that is approved pursuant to section 21510. See Michigan Laws 324.21502
- Authority: means the underground storage tank authority created in section 21523. See Michigan Laws 324.21502
- Claim: means the submission by the owner or operator or his or her representative of documentation on an application requesting payment by the authority. See Michigan Laws 324.21502
- Corrective action: means that term as it is defined in section 21302. See Michigan Laws 324.21502
- Deductible amount: means the amount of corrective action costs or indemnification costs that are required to be paid by an owner or operator as provided in section 21510a. See Michigan Laws 324.21502
- Operator: means that term as it is defined in section 21303 or a person to whom an approved claim has been assigned or transferred. See Michigan Laws 324.21502
- Owner: means that term as it is defined in section 21303. See Michigan Laws 324.21502
- Person: means an individual, partnership, corporation, association, governmental entity, or other legal entity. See Michigan Laws 324.21503
- Release: means that term as it is defined in section 21303. See Michigan Laws 324.21503
(1) An owner or operator with a claim approved pursuant to section 21510 for which corrective action is in progress who sells or transfers the property that is the subject of the approved claim to another person may assign or transfer the approved claim to that other person. The person to whom the assignment or transfer is made is eligible to receive money from the authority as an owner or operator for the release which is the subject of the approved claim. Allowable, outstanding approved or paid work invoices of the owner or operator making the assignment or transfer may be counted toward the deductible amount of the person to whom the assignment or transfer is made.
(2) An owner or operator assigning or transferring an approved claim pursuant to this section shall notify the administrator of the proposed assignment or transfer at least 10 days before the effective date of the assignment or transfer.