MI SB0755

Corrects "second hand" to "secondhand" throughout the act and expands the act's title to include disposition of misappropriated articles and remedies for violations.

Requires secondhand dealers and junk dealers without a physical business location to maintain separate records of articles sold and file weekly reports with local law enforcement listing recipients' names and addresses.

Establishes a written hold order process allowing law enforcement to place holds on articles suspected of being misappropriated for up to 90 days (extendable by court order) with specific requirements for order content and documentation.

Provides that title to held articles vests automatically in the dealer 10 days after the hold expires if no court extension is granted, and requires court hearings before stolen articles can be returned to claimants, with restitution required from the seller if the claim is upheld.

Takes effect 90 days after enactment.