MCL - Act 433 of 1998


Act 433 of 1998

AN ACT to regulate certain transfers of property to minors; to make uniform the law regulating certain transfers of property to minors; and to repeal acts and parts of acts.

History: 1998, Act 433, Imd. Eff. Dec. 30, 1998

The People of the State of Michigan enact:
Document Type Description
Section 554.521 Section Short title.
Section 554.522 Section Meanings of words and phrases.
Section 554.523 Section Definitions; A to C.
Section 554.524 Section Definitions; F to P.
Section 554.525 Section Definitions; S to T.
Section 554.526 Section Change in residence of transferor, minor, or custodian, or removal of custodial property from state; jurisdiction; governing laws.
Section 554.527 Section Custodian to receive property upon occurrence of future event; nomination; creation of custodial property.
Section 554.528 Section Transfer by irrevocable gift or power of appointment in custodian.
Section 554.529 Section Irrevocable transfer by personal representative or trustee; designation of custodian.
Section 554.530 Section Absence of will or authorization to make irrevocable transfer; transfer by personal representative, trustee, or conservator; conditions.
Section 554.531 Section Minor not having conservator; transfer by person holding property or owing liquidated debt.
Section 554.532 Section Custodial property; receipt and discharge.
Section 554.533 Section Creation and transfer of custodial property; actions.
Section 554.534 Section Instrument; form.
Section 554.535 Section Time of control; holding constituting single custodianship.
Section 554.536 Section Conditions not affecting validity of transfer; transfer as irrevocable; property indefeasibly vested in minor; powers, rights, and immunities.
Section 554.537 Section Duties of custodian.
Section 554.538 Section Rights, powers, and authority over custodial property; limitation.
Section 554.539 Section Delivery, payment, or expenditure by custodian.
Section 554.540 Section Custodian; expenses; compensation; bond.
Section 554.541 Section Responsibility of third person.
Section 554.542 Section Liability of custodian or minor.
Section 554.543 Section Service as custodian; declination; substitute; successor.
Section 554.544 Section Resignation, ineligibility, death, or incapacitation of custodian; possession and control of property and records; petition for removal of custodian.
Section 554.545 Section Accounting.
Section 554.546 Section Transfer of property to minor; time.
Section 554.547 Section Transfer of property to minor; delay.
Section 554.548 Section Applicability of act to transfer described in MCL 554.526.
Section 554.549 Section Applicability of act to transfer made before effective date.
Section 554.550 Section Construction of act.
Section 554.551 Section Repeal of former 1959 PA 172; effect.
Section 554.552 Section Repeal of MCL 554.451 to 554.461.