Mich. Comp. Laws » Michigan Compiled Laws / Chapter 567 / Act 29 of 1995
Michigan Compiled Laws

Mich. Comp. Laws § 567.251b (2026)

Streamlined audit process; election; audit.

✓ current as of July 2026
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UNIFORM UNCLAIMED PROPERTY ACT


Act 29 of 1995


567.251b Streamlined audit process; election; audit.

Sec. 31b.

    (1) Eligible holders being examined by the administrator under section 31(2) may elect to follow the streamlined audit process described in this section. Eligible holders may elect the streamlined audit process by executing a nondisclosure agreement acceptable to the administrator within 30 days from the receipt of the audit notice.

    (2) An audit conducted under the streamlined audit process described in this section shall meet both of the following:

    (a) Be completed within a time frame jointly developed by the holder and the administrator, with the goal of completing the audit within 18 months from the receipt of the audit notice.

    (b) Be conducted according to standards set forth in rules and regulations promulgated in accordance with section 31(4).

History: Add. 2015, Act 242, Imd. Eff. Dec. 22, 2015

Compiler's Notes:

    Enacting section 1 of Act 242 of 2015 provides:

    "Enacting section 1. This amendatory act is retroactive and applies to audits in progress as of August 15, 2015, but does not retroactively apply to contested determinations in litigation before the date of enactment of this amendatory act."

Notes of Decisions
Cited in 5 cases (5 in the last 5 years), 2023–2025 · leading case: The Walt Disney Co. v. Rachael Eubanks (Mich. 2025).
Sort: Relevance Newest Treatment
The Walt Disney Co. v. Rachael Eubanks (Mich. 2025). · cites it 4× “251a and MCL 567.251b. See 2014 PA 423 , effective March 31, 2015 (adding MCL 567.”
Dine Brands Global Inc v. Rachael Eubanks (Mich. 2025). · cites it 4× “251a and MCL 567.251b. See 2014 PA 423 , effective March 31, 2015 (adding MCL 567.”
O the Walt Disney Co. v. Rachael Eubanks (Mich. Ct. App. 2023). “See MCL 567.251b. Plaintiffs in these cases did not participate in a “streamlined audit.”
O Dine Brands Global Inc v. Rachael Eubanks (Mich. Ct. App. 2023). “See MCL 567.251b. Plaintiffs in these cases did not participate in a “streamlined audit.”
The Walt Disney Co. v. Rachael Eubanks (Mich. Ct. App. 2024). “See MCL 567.251b. Plaintiffs in these cases did not participate in a “streamlined audit.”
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