Michigan § 570.561 Payment of proceeds to prior lienholder; payment of amount to end user possessing lien or to customer.

Michigan Statutes

§ 570.561 — Payment of proceeds to prior lienholder; payment of amount to end user possessing lien or to customer.

Michigan § 570.561

Ch. 570LIENS

Act 481 of 2002SPECIAL TOOLS LIEN ACT (570.541-570.571)

This text of Michigan § 570.561 (Payment of proceeds to prior lienholder; payment of amount to end user possessing lien or to customer.) is published on Counsel Stack Legal Research, covering Michigan primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Mich. Comp. Laws § 570.561 (2026).

Text

SPECIAL TOOLS LIEN ACT (EXCERPT) Act 481 of 2002 570.561 Payment of proceeds to prior lienholder; payment of amount to end user possessing lien or to customer. Sec. 21.

(1)If the sale is for a sum greater than the amount of the lien, the proceeds shall first be paid to the prior lienholder who has a perfected lien in an amount sufficient to extinguish that interest. Any excess shall next be paid to the end user who possesses a lien under this act in an amount sufficient to extinguish that interest. Any remainder shall then be paid to the customer.

(2)A sale shall not be made under this act if it would be in violation of any right of a customer under federal patent or copyright law.

Free access — add to your briefcase to read the full text and ask questions with AI

SPECIAL TOOLS LIEN ACT (EXCERPT) Act 481 of 2002 570.561 Payment of proceeds to prior lienholder; payment of amount to end user possessing lien or to customer. Sec. 21. (1) If the sale is for a sum greater than the amount of the lien, the proceeds shall first be paid to the prior lienholder who has a perfected lien in an amount sufficient to extinguish that interest. Any excess shall next be paid to the end user who possesses a lien under this act in an amount sufficient to extinguish that interest. Any remainder shall then be paid to the customer. (2) A sale shall not be made under this act if it would be in violation of any right of a customer under federal patent or copyright law.