Section 554.524 - Definitions; F to P. - Michigan Statutes

MICHIGAN UNIFORM TRANSFERS TO MINORS ACT (EXCERPT)
Act 433 of 1998

554.524 Definitions; F to P.

Sec. 4.

(1) “Financial institution” means a bank, trust company, savings and loan association, or credit union chartered and supervised under state or federal law.

(2) “Legal representative” means an individual's personal representative or conservator.

(3) “Member of the minor's family” means the minor's parent, stepparent, spouse, grandparent, brother, sister, uncle, or aunt, whether of the whole or half blood or by adoption.

(4) “Minor” means an individual who is less than 18 years of age.

(5) “Person” means an individual, partnership, corporation, limited liability company, association, or other legal entity.

(6) “Personal representative” means a personal representative, independent personal representative, or special fiduciary of a decedent's estate or a person legally authorized to perform substantially the same functions.

History: 1998, Act 433, Imd. Eff. Dec. 30, 1998