MCL - Act 53 of 1978
AN ACT to define the rights and obligations of parties and financial institutions in connection with funds on deposit therein in which 2 or more persons have an interest by way of right of withdrawal or ownership.
History: 1978, Act 53, Imd. Eff. Mar. 9, 1978
| Document | Type | Description |
|---|---|---|
| Section 487.711 | Section | Short title. |
| Section 487.712 | Section | Meanings of words and phrases. |
| Section 487.713 | Section | Definitions. |
| Section 487.714 | Section | Additional definitions. |
| Section 487.715 | Section | Statutory joint account; creation; signing contract; form of contract; acknowledging receipt of contract; adding additional parties; modifying form of contract. |
| Section 487.716 | Section | Nature and effect of statutory joint accounts; failure to answer question in contract. |
| Section 487.717 | Section | Withdrawals of funds; liability of financial institution; deposits subject to setoff. |
| Section 487.718 | Section | Deposits subject to rights of creditors; laws applicable to transfers in fraud of creditors; claims against insolvent estate of deceased owner of statutory joint account. |
| Section 487.719 | Section | Payment of widow's allowance or allowance for dependent children upon death of person owning deposits in statutory joint account. |