Michigan Laws 567.234 – Property held by court, governmental agency, or public corporation or authority
Current as of: 2023 | Check for updates
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Terms Used In Michigan Laws 567.234
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Owner: means a depositor, in the case of a deposit; a beneficiary, in case of a trust other than a deposit in trust; a creditor, claimant, or payee, in the case of other intangible property; or a person having a legal or equitable interest in property subject to this act. See Michigan Laws 567.222
- Property: means tangible or intangible personal property owned by a person. See Michigan Laws 567.222
- State: means any state, district, commonwealth, territory, insular possession, or any other area subject to the legislative authority of the United States. See Michigan Laws 567.222
Property held for the owner by a court, state, or other government, governmental subdivision or agency, public corporation, or public authority that remains unclaimed by the owner for more than 1 year after becoming payable or distributable is presumed abandoned.