Storage; loss of ownership rights.

Sec. 5. Except as provided in section 7, the owner of an article delivered to a business for the purpose of storage shall lose his or her ownership rights to the article not less than 1 year after the date on which the storage agreement terminated or expired if the article has been in the possession of that business for more than 1 year after the storage agreement terminated or expired. History: 1989, Act 257, Imd. Eff. Dec. 26, 1989