2010 Michigan Compiled Laws
Chapter 554 - REAL AND PERSONAL PROPERTY
Act 433 of 1998 - MICHIGAN UNIFORM TRANSFERS TO MINORS ACT (554.521 - 554.552)

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

• 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 MCL 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 MCL 554.451 to 554.461.