(1) Property in the possession of a holder
that is presumed abandoned under the act must be reported and delivered to the
department as abandoned property.
(2) Property held by a fiduciary is
presumed abandoned unless the owner has, within 5 years after it became payable
or distributable:
(a) increased or decreased the principal;
(b) accepted payment of principal or
income;
(c) corresponded in writing concerning the
property; or
(d) otherwise indicated an interest as
evidenced by a memorandum on file with the fiduciary.