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2017 Michigan Compiled Laws
Chapter 570 - Liens
Act 481 of 2002 SPECIAL TOOLS LIEN ACT (570.541 - 570.571)
AN ACT to provide for and establish possession and ownership rights in special tools for use in the fabrication of metal parts under certain conditions; to require procedures to establish a lien; and to establish and maintain a lien on certain special tools.
History: 2002, Act 481, Imd. Eff. June 27, 2002
- Section 570.541 Short title.
- Section 570.542 Definitions.
- Section 570.543 Special tools; unclaimed possession; transfer of rights from customer to end user; destruction.
- Section 570.545 Transfer of rights to end user; notice; waiting period.
- Section 570.547 Return receipt of notice; possession unclaimed; transfer.
- Section 570.549 Retroactive application of waiting period.
- Section 570.551 Applicability and construction of MCL 570.543, 570.545, 570.547, and 570.549.
- Section 570.553 Lien; possession.
- Section 570.555 Enforcement of lien; notice.
- Section 570.557 Sale of special tool at public auction; conditions.
- Section 570.559 Sale of special tool at public auction; notice; information; notice nondeliverable; dispute.
- Section 570.561 Payment of proceeds to prior lienholder; payment of amount to end user possessing lien or to customer.
- Section 570.563 Information recorded by special tool builder; filing financial statement; constructive notice of lien on special tool; attachment; duration of lien; priority.
- Section 570.565 Enforcement of lien; notice.
- Section 570.567 Rights of possession.
- Section 570.569 Sale of special tool with lien asserted.
- Section 570.571 Sale of special tool; use of excess proceeds; prohibition.
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