UNIFORM UNCLAIMED PROPERTY ACT
Act 29 of 1995
567.245 Claim of interest in property.
Sec. 25.
(1) A person, excluding another state, claiming an interest in any property paid or delivered to the administrator under this act, may file with the administrator a claim on a form prescribed by the administrator and verified by the claimant.
(2) The administrator shall consider each claim within 90 days after it is filed and give written notice to the claimant if the claim is denied in whole or in part. The notice may be given by mailing it to the last address, if any, stated in the claim as the address to which notices are to be sent. If no address for notices is stated in the claim, the notice may be mailed to the last address, if any, of the claimant as stated in the claim. No notice of denial need be given if the claim fails to state either the last address to which notices are to be sent or the address of the claimant.
(3) If a claim is allowed, the administrator shall pay over or deliver to the claimant the property or the amount the administrator actually received or the net proceeds if it has been sold by the administrator, plus any additional amount required by section 22. If the property claimed was interest bearing to the owner on the date of surrender by the holder, and if the date of surrender is on or after March 28, 1996, the administrator also shall pay interest at a rate of 6% a year or any lesser rate the property earned while in the possession of the holder. Interest begins to accrue when the interest bearing property is delivered to the administrator and ceases on the earlier of the expiration of 10 years after delivery or the date on which payment is made to the owner. No interest on interest bearing property is payable for any period before March 28, 1996.
(4) Any holder who pays the owner for property that has been delivered to the state and which, if claimed from the administrator, would be subject to subsection (3) shall add interest as provided in that subsection. The added interest must be repaid to the holder by the administrator in the same manner as the principal.
History: 1995, Act 29, Eff. Mar. 28, 1996 ;-- Am. 1997, Act 195, Imd. Eff. Dec. 30, 1997
Notes of Decisions
Flint Cold Storage v. Dep't of Treasury, 776 N.W.2d 387 (Mich. Ct. App. 2009).
· cites it 3× “” MCL 567.245(1). The state treasurer must then consider the claim “within 90 days after it is filed and give written notice to the claimant if the claim is denied in whole or in part.”
Dennis O'Connor v. State of Michigan (Mich. Ct. App. 2023).
· cites it 12× “In so doing, plaintiff ignores the context in which this term is used in MCL 567.245, and ignores the remaining provisions in the UUPA.”
O'Connor v. Eubanks (E.D. Mich. 2022).
· cites it 3× “See Mich. Comp. Laws § 567.245 (3). Furthermore, even if Plaintiff could show that his constitutional rights were violated, the individual Defendants are entitled to qualified immunity because Plaintiff has not shown that it is clearly established, either under the Taking Clause…”
Brigitte Hendershot v. Terry Stanton (6th Cir. 2025).
“Mich. Comp. Laws § 567.245 (3) (noting the state will pay “interest at a rate of 6% a year or any lesser rate the property earned while in the possession of the holder”).”
— Mich. Comp. Laws § 567.245(1) — 2 cases
Flint Cold Storage v. Dep't of Treasury, 776 N.W.2d 387 (Mich. Ct. App. 2009).
“” MCL 567.245(1). The state treasurer must then consider the claim “within 90 days after it is filed and give written notice to the claimant if the claim is denied in whole or in part.”
Dennis O'Connor v. State of Michigan (Mich. Ct. App. 2023).
“In so doing, plaintiff ignores the context in which this term is used in MCL 567.245, and ignores the remaining provisions in the UUPA.”
— Mich. Comp. Laws § 567.245(2) — 2 cases
Flint Cold Storage v. Dep't of Treasury, 776 N.W.2d 387 (Mich. Ct. App. 2009).
“” MCL 567.245(1). The state treasurer must then consider the claim “within 90 days after it is filed and give written notice to the claimant if the claim is denied in whole or in part.”
Dennis O'Connor v. State of Michigan (Mich. Ct. App. 2023).
“In so doing, plaintiff ignores the context in which this term is used in MCL 567.245, and ignores the remaining provisions in the UUPA.”
— Mich. Comp. Laws § 567.245(3) — 3 cases
Flint Cold Storage v. Dep't of Treasury, 776 N.W.2d 387 (Mich. Ct. App. 2009).
“” MCL 567.245(1). The state treasurer must then consider the claim “within 90 days after it is filed and give written notice to the claimant if the claim is denied in whole or in part.”
Dennis O'Connor v. State of Michigan (Mich. Ct. App. 2023).
“In so doing, plaintiff ignores the context in which this term is used in MCL 567.245, and ignores the remaining provisions in the UUPA.”
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