Section 570.545 - Transfer of rights to end user; notice; waiting period.
SPECIAL TOOLS LIEN ACT (EXCERPT)
Act 481 of 2002
570.545 Transfer of rights to end user; notice; waiting period.
Sec. 5.
After the expiration of the 3-year period set forth in section 3, if an end user chooses to have all rights, title, and interest in a special tool transferred to the end user by operation of law, the end user shall send written notice by registered mail, return receipt requested, to an address designated in writing by the customer, or if not so designated, to the customer's last known address, indicating that the end user intends to terminate the customer's rights, title, and interest in the special tool, by having all rights, title, and interest in the special tool transferred to the end user by operation of law, under this act.
History: 2002, Act 481, Imd. Eff. June 27, 2002