There is a newer version of the Michigan Compiled Laws
2010 Michigan Compiled Laws
Chapter 554 - REAL AND PERSONAL PROPERTY
Act 433 of 1998 - MICHIGAN UNIFORM TRANSFERS TO MINORS ACT (554.521 - 554.552)
Section 554.535 - Time of control; holding constituting single custodianship.
MICHIGAN UNIFORM TRANSFERS TO MINORS ACT (EXCERPT)Act 433 of 1998
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
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