Responsibility of Third Person - Mich. Comp. Laws Section 554.541
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Michigan Laws > Real And Personal Property > Responsibility of Third Person - Mich. Comp. Laws Section 554.541
554.541 Responsibility of third person.
Sec. 21.
A third person in good faith and without court order may act on the instructions of or otherwise deal with any person purporting to make a transfer or purporting to act in the capacity of a custodian and, in the absence of knowledge, is not responsible for determining any of the following:
(a) The validity of the purported custodian's designation.
(b) The propriety of, or the authority under this act for, an act of the purported custodian.
(c) The validity or propriety under this act of an instrument executed or given either by the person purporting to make a transfer or by the purported custodian.
(d) The propriety of the application of property of the minor delivered to the purported custodian.
History: 1998, Act 433, Imd. Eff. Dec. 30, 1998
Section: 554.534 554.535 554.536 554.537 554.538 554.539 554.540 554.541 554.542 554.543 554.544 554.545 554.546 554.547 554.548
Last modified: March 17, 2013
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