™Your Policy Risk Impact Agent
5 chapters · 20 sections in this title.
Mich. Comp. Laws § 434.21 Definitions.
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Sec. 1. As used in this act: (a) “Collectible currency” means a medium of exchange including coins, bank notes, government notes, and paper money that has a value greater than face value. (b) “Contraband” means any property that is prohibited by any law to be owned, carried, conc…
Mich. Comp. Laws § 434.22 Duty of person finding lost property; procedure for receiving property if not claimed; inspection and classification of property; storage.
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Sec. 2. (1) A person who finds lost property shall report the finding or deliver the property to a law enforcement agency in the jurisdiction where the property is found. This shall include all property found in an abandoned vehicle. If the person wishes to receive the property i…
Mich. Comp. Laws § 434.23 Reports; disposition and inspection of property of minor value.
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Sec. 3. (1) Within 48 hours of a report or delivery under section 2(1), the following reports shall be completed on property of major value, collectible currency found in 1 location for the total value, currency found in 1 location for the total value, hazardous material, and per…
Mich. Comp. Laws § 434.24 Collectible currency and currency; contraband; property in evidence; hazardous material; junk; perishable property; property of major value; property of minor value; disposition.
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Sec. 4. (1) Except as otherwise provided in subsection (2), collectible currency and currency shall be returned to the legal owner when the law enforcement agency is reasonably satisfied of that ownership. Pursuant to section 5, if the legal owner cannot be located or established…