570.306 Proceeds of sale; distribution; order of priority; return of remaining proceeds to vehicle owner; disposition of unclaimed money.
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570.306 Proceeds of sale; distribution; order of priority; return of remaining proceeds to vehicle owner; disposition of unclaimed money.
Sec. 6.
(1)After the amount of the lien under section 3 is paid to the garage keeper and the costs of the sale are deducted, any remaining money shall be paid to the following persons in this descending order of priority:
(a)A prior lienholder who gives notice to the garage keeper of his or her claim of lien before the distribution of the money realized from a sale under this act is complete.
(b)The reasonable charges of the garage keeper.
(c)The owner or owners of the vehicle as described in subsection (2).
(2)Proceeds of the sale remaining after the distribution is made under subsection
(1)shall be returned to the owner of the vehicle by mailing the proceeds to the owner's last known address by certified mail. If the garage keeper cannot locate the owner within 14 calendar days after the date of the sale, the remaining money shall be transmitted to the department. If the owner does not claim the remaining money within 2 years after the date of the sale, it shall escheat to the state.
History: Add. 1998, Act 236 , Imd. Eff. July 3, 1998 ;-- Am. 2002, Act 109 , Eff. July 1, 2002
Popular Name: Garage Keeper's Lien Act