Michigan Compiled Laws § 554.535 Time Of Control; Holding Constituting Single Custodianship.

554.535 Time of control; holding constituting single custodianship.

Sec. 15.

(1) A transferor shall place the custodian in control of the custodial property as soon as practicable.

(2) A transfer shall be made only for 1 minor, and only 1 person shall be the custodian. Custodial property held under this act by the same custodian for the benefit of the same minor constitutes a single custodianship.

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

Section: Previous  554.528  554.529  554.530  554.531  554.532  554.533  554.534  554.535  554.536  554.537  554.538  554.539  554.540  554.541  554.542  Next

Last modified: October 10, 2016