There is a newer version of the Michigan Compiled Laws
2010 Michigan Compiled Laws
Chapter 487 - FINANCIAL INSTITUTIONS
Act 248 of 1909 - PAYMENT OF DEPOSITS (487.701 - 487.703)
PAYMENT OF DEPOSITSAct 248 of 1909
AN ACT in relation to the payment of deposits of money in banks and trust companies by minors, trust deposits, and deposits in the names of more than 1 person.
History: 1909, Act 248, Eff. Sept. 1, 1909
- Section 487.701 - Minor's deposit; payment; receipt or acquittance sufficient.
- Section 487.702 - Trust deposit; death of trustees; payment of deposit; receipt or acquittance as release and discharge.
- Section 487.703 - Deposit in name of joint beneficiaries; payment; receipt sufficient; deposits made payable to survivor; prima facie evidence.
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