445.1759 Termination of owner's rights to article; circumstances; business as owner of article; disposition of article.
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445.1759 Termination of owner's rights to article; circumstances; business as owner of article; disposition of article.
Sec. 9.
(1)On or after the effective date of this act, the owner's rights to an article shall immediately terminate if any of the following circumstances exists:
(a)The article was delivered to the business for the purpose of cleaning or repair services and has been in the possession of that business for more than 1 year after the date of delivery to that business.
(b)The article was delivered to the business for the purpose of storage and has been in the possession of that business for more than 1 year after the date the storage agreement terminated or expired.
(2)Upon the loss of the owner's rights to an article as provided for by this act, the business shall become the owner of the article.
(3)A business may sell, donate, or otherwise dispose of an article upon the loss of the owner's rights to an article.
History: 1989, Act 257, Imd. Eff. Dec. 26, 1989