Michigan Laws 434.26 – Disposition of collectible currency, currency, perishable property, and property of major value; keeping, classifying, and disposing of property located in abandoned vehicle
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(1) Collectible currency, currency, perishable property, and property of major value that is not claimed as provided under section 5(2) shall be disposed of by the law enforcement agency as follows:
(a) Unless the finder of the property cannot be located or does not want the property, return the property to the finder.
Terms Used In Michigan Laws 434.26
- Collectible currency: means a medium of exchange including coins, bank notes, government notes, and paper money that has a value greater than face value. See Michigan Laws 434.21
- Currency: means a medium of exchange including coins, bank notes, government notes, and paper money that has a value not greater than face value. See Michigan Laws 434.21
- Legal owner: means any individual, organization, partnership, company, corporation, or governmental agency who had care, custody, or control over the property and can establish ownership to the satisfaction of the law enforcement agency by description, title, sales receipt, bill of goods, or other means. See Michigan Laws 434.21
- Perishable property: means any property subject to quick deterioration or spoilage except when maintained under proper conditions. See Michigan Laws 434.21
- Property: means anything which is the subject of ownership and is corporeal, tangible, visible, or personal, or that has an exchange value. See Michigan Laws 434.21
- Property of major value: means any property that is not collectible currency, contraband, currency, evidence, hazardous material, junk, perishable property, or property of minor value. See Michigan Laws 434.21
(b) If the finder of the property cannot be located or does not want the property, do 1 of the following:
(i) Retain the property for use by the law enforcement agency.
(ii) Sell the property at a public sale and deposit the money from the sale in the general fund of the governmental unit of the law enforcement agency.
(iii) Release the property to a charitable organization as defined in section 2 of the charitable organizations and solicitations act, Act No. 169 of the Public Acts of 1975, being section 400.272 of the Michigan Compiled Laws.
(2) Property located in an abandoned vehicle shall be kept in a place of safekeeping. If the legal owner of the property is not located when the vehicle has been disposed of under the provisions regarding abandoned vehicles under the Michigan vehicle code, Act No. 300 of the Public Acts of 1949, being section 257.1 to 257.923 of the Michigan Compiled Laws, the property shall be classified under section 2(2) and the property may be disposed of pursuant to section 5 and subsection (1).