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Code · Michigan · Chapter 554 — Real and Personal Property

554.525 Definitions; S to T.

91 words·~1 min read·/mi/chapter-554/554-525

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554.525 Definitions; S to T.
Sec. 5.
(1)"State" includes a state of the United States, the District of Columbia, the Commonwealth of Puerto Rico, and any territory or possession subject to the legislative authority of the United States.
(2)"Transfer" means a transaction that creates custodial property under section 13.
(3)"Transferor" means a person who makes a transfer under this act.
(4)"Trust company" means a financial institution, corporation, or other legal entity, authorized to exercise general trust powers.
History: 1998, Act 433 , Imd. Eff. Dec. 30, 1998
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