Definitions - Mich. Comp. Laws Section 487.713

Sec. 3.

(a) "Deposits" means funds on deposit in a financial institution, including interest.

(b) "Joint account" means a deposit in a financial institution in which 2 or more persons have an interest, either by way of ownership or right of withdrawal.

(c) "Statutory joint account" means a joint account as to which a statutory joint account contract, as provided in this act, has been signed by a person having a right of withdrawal on the account.