Michigan law Sections 765.16 to 765.18 govern the handling, assignment, and deposit of cash, checks, and securities related to legal processes such as bail or court orders. They specify requirements for valid assignments, how deposits are managed, and the handling of interest. The law ensures proper court oversight and protection of deposited assets.
Cash, checks, or securities deposited under legal processes are protected from garnishment or attachment in Michigan.
It must be in writing, signed by the depositor before two witnesses, acknowledged before an authorized officer, and specify the disposition of the entire deposit.
No, when securities are deposited, their interest coupons must remain attached and not be detached.
Geistest on deposited funds is paid into the general or relevant fund of the state or local entity, according to the case or court order.