2006 Michigan Compiled Laws - Mich. Comp. Laws § 570.571 Sale of special tool; use of excess proceeds; prohibition.

SPECIAL TOOLS LIEN ACT (EXCERPT)
Act 481 of 2002


570.571 Sale of special tool; use of excess proceeds; prohibition.

Sec. 31.

(1) If the proceeds of the sale are greater than the amount of the lien, the proceeds shall first be paid to the special tool builder in the amount necessary to satisfy the lien. All proceeds in excess of the lien shall be paid to the customer.

(2) A sale shall not be made or possession shall not be obtained under section 27 if it would be in violation of any right of a customer or end user under federal patent, bankruptcy, or copyright law.


History: 2002, Act 481, Imd. Eff. June 27, 2002



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