Section 600.5325 - Clerk as agent of listed creditors; title to funds. - Michigan Statutes

REVISED JUDICATURE ACT OF 1961 (EXCERPT)
Act 236 of 1961

600.5325 Clerk as agent of listed creditors; title to funds.

Sec. 5325.

The clerk of the court shall be the agent of each creditor listed, as to funds paid into court to which such creditors are entitled under the provisions of this chapter, and upon payment of any such funds to the clerk of the court the title thereto shall immediately pass to the creditors entitled thereto by the provisions of this chapter and their heirs and assigns, and shall become part of the estate of such creditors. This provision shall not apply to moneys not called for by any creditor or checks returned not delivered and remaining in the clerk's office for 6 months after a petition is dismissed.

History: 1961, Act 236, Eff. Jan. 1, 1963