Michigan § 554.523 Definitions; A to C.

Michigan Statutes

§ 554.523 — Definitions; A to C.

Michigan § 554.523

Ch. 554REAL AND PERSONAL PROPERTY

Act 433 of 1998MICHIGAN UNIFORM TRANSFERS TO MINORS ACT (554.521-554.552)

This text of Michigan § 554.523 (Definitions; A to C.) is published on Counsel Stack Legal Research, covering Michigan primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Mich. Comp. Laws § 554.523 (2026).

Text

MICHIGAN UNIFORM TRANSFERS TO MINORS ACT (EXCERPT) Act 433 of 1998 554.523 Definitions; A to C. Sec. 3.

(1)"Adult" means an individual who is 18 years of age or older.

(2)"Benefit plan" means an employer's plan for the benefit of an employee or partner.

(3)"Broker" means a person lawfully engaged in the business of effecting transactions in securities or commodity contracts for the person's own account or for the account of others.

(4)"Conservator" means a person appointed or qualified by a court to act as a conservator, special conservator, guardian, limited guardian, or temporary guardian of a minor's property or a person legally authorized to perform substantially the same functions.

(5)"Court" means the probate court for the county in which a minor resides.

(6)"Custodial property

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MICHIGAN UNIFORM TRANSFERS TO MINORS ACT (EXCERPT) Act 433 of 1998 554.523 Definitions; A to C. Sec. 3. (1) "Adult" means an individual who is 18 years of age or older. (2) "Benefit plan" means an employer's plan for the benefit of an employee or partner. (3) "Broker" means a person lawfully engaged in the business of effecting transactions in securities or commodity contracts for the person's own account or for the account of others. (4) "Conservator" means a person appointed or qualified by a court to act as a conservator, special conservator, guardian, limited guardian, or temporary guardian of a minor's property or a person legally authorized to perform substantially the same functions. (5) "Court" means the probate court for the county in which a minor resides. (6) "Custodial property" means an interest in property transferred to a custodian under this act and the income from, and proceeds of, that interest in property. (7) "Custodian" means a person so designated pursuant to section 13 or a successor or substitute custodian designated under section 7, 23, or 24.