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Code · Michigan · Chapter 554 — Real and Personal Property

554.535 Time of control; holding constituting single custodianship.

76 words·~1 min read·/mi/chapter-554/554-535

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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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