Michigan Laws 440.7701 – Applicability of amendatory act
Current as of: 2023 | Check for updates
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Terms Used In Michigan Laws 440.7701
- Document of title: means a record that in the regular course of business or financing is treated as adequately evidencing that the person in possession or control of the record is entitled to receive, control, hold, and dispose of the record and the goods the record covers and that purports to be issued by or addressed to a bailee and to cover goods in the bailee's possession which are either identified or are fungible portions of an identified mass. See Michigan Laws 440.1201
- Right: includes remedy. See Michigan Laws 440.1201
(1) The amendatory act that added this section applies to a document of title that is issued or a bailment that arises on or after the effective date of that amendatory act.
(2) The amendatory act that added this section does not apply to a document of title that is issued or a bailment that arises before the effective date of that amendatory act even if the document of title or bailment would be subject to that amendatory act if the document of title had been issued or bailment had arisen on or after the effective date of that amendatory act.
(3) The amendatory act that added this section does not apply to a right of action that has accrued before the effective date of that amendatory act.