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Michigan Compiled Laws Complete Through PA 336 of 2018
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Act 481 of 2002
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SPECIAL TOOLS LIEN ACT

Act 481 of 2002

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


© 2017 Legislative Council, State of Michigan

The People of the State of Michigan enact:

DocumentTypeDescription
Section 570.541SectionShort title.
Section 570.542SectionDefinitions.
Section 570.543SectionSpecial tools; unclaimed possession; transfer of rights from customer to end user; destruction.
Section 570.545SectionTransfer of rights to end user; notice; waiting period.
Section 570.547SectionReturn receipt of notice; possession unclaimed; transfer.
Section 570.549SectionRetroactive application of waiting period.
Section 570.551SectionApplicability and construction of MCL 570.543, 570.545, 570.547, and 570.549.
Section 570.553SectionLien; possession.
Section 570.555SectionEnforcement of lien; notice.
Section 570.557SectionSale of special tool at public auction; conditions.
Section 570.559SectionSale of special tool at public auction; notice; information; notice nondeliverable; dispute.
Section 570.561SectionPayment of proceeds to prior lienholder; payment of amount to end user possessing lien or to customer.
Section 570.563SectionInformation recorded by special tool builder; filing financial statement; constructive notice of lien on special tool; attachment; duration of lien; priority.
Section 570.565SectionEnforcement of lien; notice.
Section 570.567SectionRights of possession.
Section 570.569SectionSale of special tool with lien asserted.
Section 570.571SectionSale of special tool; use of excess proceeds; prohibition.
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