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31 chapters · 495 sections in this title.
Mich. Comp. Laws § 487.711 Short title.
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Sec. 1. This act shall be known and may be cited as the "statutory joint account act".
Mich. Comp. Laws § 487.712 Meanings of words and phrases.
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Sec. 2. For the purposes of this act, the words and phrases defined in sections 3 and 4 have the meaning ascribed to them in those sections.
Mich. Comp. Laws § 487.713 Definitions.
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Sec. 3. (a) "Deposits" means funds on deposit in a financial institution, including interest. (b) "Joint account" means a deposit in a financial institution in which 2 or more persons have an interest, either by way of ownership or right of withdrawal. (c) "Statutory joint accoun…
Mich. Comp. Laws § 487.714 Additional definitions.
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Sec. 4. (a) "Financial institution" means a state or nationally chartered bank or a state or federally chartered savings and loan association, savings bank, or credit union whose deposits are insured by an agency of the United States government and which maintains a principal off…
Mich. Comp. Laws § 487.715 Statutory joint account; creation; signing contract; form of contract; acknowledging receipt of contract; adding additional parties; modifying form of contract.
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Sec. 5. One or more persons may create a statutory joint account by signing a statutory joint account contract with a financial institution that is agreeable to the contract with indicated insertions in form substantially as follows: FORM OF STATUTORY JOINT ACCOUNT CONTRACT 1. Na…