259.78 Sale, transfer, or assignment of interest in aircraft; transfer fee.
163 words·~1 min read·
/mi/chapter-259/259-78A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
259.78 Sale, transfer, or assignment of interest in aircraft; transfer fee.
Sec. 78.
When the owner of a registered aircraft sells, transfers, or assigns his or her interest thereto, the registration certificate issued for that aircraft shall be returned to the commission within 15 days together with the date and place of sale, transfer, or assignment, the value received, and the name and residence of the purchaser, transferee, or assignee. Within 15 days the purchaser, transferee, or assignee shall apply for the transfer of the registration certificate, if the aircraft remains subject to registration as defined in this act. The fee for the transfer of the registration certificate shall be $5.00.
History: 1945, Act 327, Imd. Eff. May 28, 1945 ;-- CL 1948, 259.78 ;-- Am. 1976, Act 191, Imd. Eff. July 8, 1976 ;-- Am. 1988, Act 391, Imd. Eff. Dec. 22, 1988
Former Law: See section 2 of Act 63 of 1931; Act 169 of 1933; and Act 265 of 1939.