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Code · Michigan · Chapter 490 — Credit Unions

490.356 Minor; deposit, investment, or withdrawal.

82 words·~1 min read·/mi/chapter-490/490-356

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490.356 Minor; deposit, investment, or withdrawal.
Sec. 356.
A domestic credit union may issue shares to and receive deposits from a minor. The minor may withdraw the deposits or shares and any dividends or interest on the deposits or shares. A deposit, investment in a share, or withdrawal under this section by a minor is valid and enforceable and the minor is considered an adult with respect to that deposit, investment, or withdrawal.
History: 2003, Act 215 , Eff. June 1, 2004
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