Mich. Admin. Code R 567.5 — Notice of commencement of examination

Rule 5. (1) When the examination will be conducted by an audi tor solely on behalf of this
state, or with at least 1 other state, the administrator shall notify a person that the state intends to
conduct an unclaimed property examination of that person. All of the following apply:
(a) For examinations conducted solely on behalf of this state , the examination authorization
notice shall be sent from the administrator directly to a corpo rate officer or the resident agent of
the person subject to examination. Both of the following apply:
(i) The notice shall state that the state will conduct an exa mination of the person and shall
provide the name of the authorized auditor that will conduct the examination.
(ii) The notice shall include the telephone number and addres s of the administrator or his or
her designee and shall state that the administrator or his or h er designee will address any
questions that the person may have regarding the examination.
(b)
For examinations conducted by this state and at least 1 other s tate, the administrator
shall send an examination authorization notice directly to the auditor. All of the following apply:
(i) The multistate audit notice will occur when the auditor h as collected authorizations from
the participating states and provides them to the person subject to examination.
(ii) The examination authorization notice shall contain the t elephone number and address of
the administrator or his or her designee. The notice will conta in a copy of the third party
authorization signed by the administrator or his or her designee.
(iii) Nothing contained in this rule shall be construed to pr ohibit other states from
participating in the multistate audit where the person subject to the examination agrees to allow
such participation.
(2) For purposes of a streamlined audit, notice is not comple ted until the person subject to
examination receives both the no tice of commencement of the exa mination and a proposed
nondisclosure agreement. The auditor and the person subject to examination shall make a good
faith effort to reach agreement on a nondisclosure agreement wi thin 30 days after receipt of the
notice of commencement of the examination and a proposed nondisclosure agreement.