Mich. Comp. Laws § 445.618d: Sale for sum greater than amount of lien; disposition of proceeds; prohibited sales.
Where this section sits in the code
- MI Code
- Chapter 445
- Act Act-155-of-1981
Sec. 8d.
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 molder who possesses a lien under this act in an amount sufficient to extinguish that interest. Any remainder shall then be paid to the customer.
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.
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