2006 Michigan Compiled Laws - Act 433 of 1998

MICHIGAN UNIFORM TRANSFERS TO MINORS ACT
Act 433 of 1998
AN ACT to regulate certain transfers of property to minors; to make uniform the law regulating certain transfers to 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	Description
Section 554.521	Short title.
Section 554.522	Meanings of words and phrases.
Section 554.523	Definitions; A to C.
Section 554.524	Definitions; F to P.
Section 554.525	Definitions; S to T.
Section 554.526	Change in residence of transferor, minor, or custodian, or removal of custodial property from state; jurisdiction; governing laws.
Section 554.527	Custodian to receive property upon occurrence of future event; nomination; creation of custodial property.
Section 554.528	Transfer by irrevocable gift or power of appointment in custodian.
Section 554.529	Irrevocable transfer by personal representative or trustee; designation of custodian.
Section 554.530	Absence of will or authorization to make irrevocable transfer; transfer by personal representative, trustee, or conservator; conditions.
Section 554.531	Minor not having conservator; transfer by person holding property or owing liquidated debt.
Section 554.532	Custodial property; receipt and discharge.
Section 554.533	Creation and transfer of custodial property; actions.
Section 554.534	Instrument; form.
Section 554.535	Time of control; holding constituting single custodianship.
Section 554.536	Conditions not affecting validity of transfer; transfer as irrevocable; property indefeasibly vested in minor; powers, rights, and immunities.
Section 554.537	Duties of custodian.
Section 554.538	Rights, powers, and authority over custodial property; limitation.
Section 554.539	Delivery, payment, or expenditure by custodian.
Section 554.540	Custodian; expenses; compensation; bond.
Section 554.541	Responsibility of third person.
Section 554.542	Liability of custodian or minor.
Section 554.543	Service as custodian; declination; substitute; successor.
Section 554.544	Resignation, ineligibility, death, or incapacitation of custodian; possession and control of property and records; petition for removal of custodian.
Section 554.545	Accounting.
Section 554.546	Transfer of property to minor; time.
Section 554.547	Transfer of property to minor; delay.
Section 554.548	Applicability of act to transfer described in § 554.526.
Section 554.549	Applicability of act to transfer made before effective date.
Section 554.550	Construction of act.
Section 554.551	Repeal of former 1959 PA 172; effect.
Section 554.552	Repeal of §§ 554.451 to 554.461.

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