A Banker’s Hotline Vol XVII, Number 7 article dealt with possible box drilling procedure perils. The article suggested the final notice contain “if renter doesn’t respond by a specific date, legal action against them will be taken, and they may be turned over to a credit-reporting agency” rather than “box will be drilled, contents impounded” like our notice reads.

We’re reviewing our procedures and have yet to find in the Michigan’s Uniform Unclaimed Property Act where it requires the written disclosure to include “box will be drilled, contents impounded”. Can anyone confirm it is not required by Michigan law? Has anyone changed their final notice wording and found it more effective/beneficial? Thank you in advance.

Hello JCM,

I have just gone thru the same issue. We did change our letters to specific date response and legal action. I do not recall reading that stating the box will be drilled is required.

As to finding it to be more effective/beneficial....yes and no.
The ones that contain contents do contact us, the ones who know that nothing is in the box and have no other relationship don't.

Hope this helps.