The bill amends the Michigan Marina and Boatyard Storage Lien Act by updating the procedures and requirements for facility owners to enforce liens on stored property. Key changes include specifying that a facility owner can enforce a lien only after notifying the property owner and all prior lienholders, with a defined timeline for defaults—60 days without a prior lienholder and 180 days with one. The bill also clarifies the order in which proceeds from the sale of the property must be applied, including covering the facility owner's expenses, satisfying the lien, and addressing other lienholders, with any surplus returned to the property owner.

Additionally, the bill introduces new requirements for notifying property owners and lienholders of defaults, including the method of delivery and the content of the notice. It allows for the facility owner to hold proceeds from the sale in case of disputes over lien priority and limits the facility owner's liability to the net proceeds from the sale. Other provisions include restrictions on the number of liens a facility owner can assert for the same property and the conditions under which a property owner may access their stored property. The bill aims to streamline the lien enforcement process while ensuring that property owners and lienholders are adequately informed and protected.

Statutes affected:
House Introduced Bill: 570.375