Mich. Admin. Code R 567.13 — Remediation

Rule 13. (1) After the compilation of the preliminary finding s from an examination, the
auditor shall provide a copy of the findings to the person subj ect to examination and a notice that
a remediation period of 120 days begins upon receipt of the fin dings. During the remediation
period, the property presumed abandoned may be remediated from the preliminary findings by
providing documents to the auditor that include 1 or more of the following:
(a) Documentation of accounting or data entry error.
(b) Documentation that the last known owner address is not in this state or that the owner
address is unknown and the person subject to an examination is not domiciled in this state.
(c) Documentation from the presumed owner indicating that the property is or is not owned
by that person.
(d) Documentation of transacti ons or other activity by an own er that establishes that the
property has not been abandoned.
(e) Documentation showing that the apparent liability has been satisfied.
(f) Documentation that the obligation did not exist or is not fixed and certain.
(g) Other documentation that proves that the property is not subject to or presumed
abandoned under the act.
(2) Remediation documentation shall be provided to the audit or conducting the examination
within the 120 day remediation period unless the auditor grants an extension of the remediation
period. Extension of the period shall be granted where the person has made a good faith effort to
provide the documentation as described in subrule (1) of this rule.
(3) Within 30 days of the expiration of the original or exten ded remediation period, a
closing conference shall be held between the auditor and the pe rson subject to an examination at
which time the total unclaimed funds reporting liability result ing from the examination shall be
calculated.