Michigan Laws 567.242 – Liquidation or conversion of property into money; receipt of dividends, interest, or other increments
Current as of: 2023 | Check for updates
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Terms Used In Michigan Laws 567.242
- Administrator: means the state treasurer. See Michigan Laws 567.222
- 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
If property other than money is paid or delivered to the administrator under this act, the owner is entitled to receive from the administrator any dividends, interest, or other increments realized or accruing on the property at or before liquidation or conversion of the property into money.