Mich. Admin. Code R. 567.5 - Notice of commencement of examination
Rule 5.
(1) When the
examination will be conducted by an auditor 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 corporate 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 examination 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 address of the administrator or his or her designee and shall state
that the administrator or his or her 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 state, 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 has collected authorizations from the participating states and
provides them to the person subject to examination.
(ii) The examination authorization notice
shall contain the telephone number and address of the administrator or his or
her designee. The notice will contain 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 prohibit 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 completed until the person subject to examination receives both
the notice of commencement of the examination 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 within 30 days
after receipt of the notice of commencement of the examination and a proposed
nondisclosure agreement.
Notes
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