Michigan § 554.541 Responsibility of third person.

Michigan Statutes

§ 554.541 — Responsibility of third person.

Michigan § 554.541

Ch. 554REAL AND PERSONAL PROPERTY

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

This text of Michigan § 554.541 (Responsibility of third person.) 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 § 554.541 (2026).

Text

MICHIGAN UNIFORM TRANSFERS TO MINORS ACT (EXCERPT) Act 433 of 1998 554.541 Responsibility of third person. Sec. 21. A third person in good faith and without court order may act on the instructions of or otherwise deal with any person purporting to make a transfer or purporting to act in the capacity of a custodian and, in the absence of knowledge, is not responsible for determining any of the following:

(a)The validity of the purported custodian's designation.

(b)The propriety of, or the authority under this act for, an act of the purported custodian.

(c)The validity or propriety under this act of an instrument executed or given either by the person purporting to make a transfer or by the purported custodian.

(d)The propriety of the application of property of the minor delivered to the

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MICHIGAN UNIFORM TRANSFERS TO MINORS ACT (EXCERPT) Act 433 of 1998 554.541 Responsibility of third person. Sec. 21. A third person in good faith and without court order may act on the instructions of or otherwise deal with any person purporting to make a transfer or purporting to act in the capacity of a custodian and, in the absence of knowledge, is not responsible for determining any of the following: (a) The validity of the purported custodian's designation. (b) The propriety of, or the authority under this act for, an act of the purported custodian. (c) The validity or propriety under this act of an instrument executed or given either by the person purporting to make a transfer or by the purported custodian. (d) The propriety of the application of property of the minor delivered to the purported custodian.