Possession of another persons handgun - effect July 1, 2006

 House Bill 4642, allows an individual licensed to carry a concealed firearm to legally carry, possess, use, or transport a firearm belonging to another individual as long as the individual's firearm is properly licensed and inspected under this act. This new law goes into effect until July 1, 2006. 

Direct Link:  http://www.legislature.mi.gov/documents/2005-2006/publicact/htm/2006-PA-0075.htm