Find Laws Find Lawyers Free Legal Forms USA State Laws

MICHIGAN STATUTES AND CODES

Section 555.444 - Deposit of securities with federal reserve bank; crediting deposit; designating fiduciary account; records to show ownership of securities held in account; transfer of securities.

CORPORATE FIDUCIARY STOCKHOLDERS (EXCERPT)
Act 56 of 1957

555.444 Deposit of securities with federal reserve bank; crediting deposit; designating fiduciary account; records to show ownership of securities held in account; transfer of securities.

Sec. 4.

A corporation when acting as fiduciary, as provided in section 1, may deposit, or arrange for the deposit, with a federal reserve bank, of securities, the principal and interest of which the United States or a department, agency, or instrumentality thereof has agreed to pay, or has guaranteed payment. The deposit of securities shall be credited to 1 or more accounts on the books of the federal reserve bank in the name of the corporation, and designated a fiduciary account, as distinguished from a safekeeping account, to which account other similar securities may be credited. The records of the corporation depositing securities shall show the ownership of the securities held in the account. Ownership of, and other interests in, the securities credited to the account, may be transferred by entries on the books of the federal reserve bank without physical delivery of securities.


History: Add. 1975, Act 310, Imd. Eff. Dec. 22, 1975

Michigan Forms by Issue

Michigan Abortion Forms
Michigan Adoption Forms
Michigan Appeals Forms
Michigan Business Forms
Michigan Child Support Agency Forms
Michigan Children/Juvenile Forms
Michigan Court Forms
> Criminal
> DUI
> Probate
> Traffic
> Case Evaluation
> Civil (County)
> Civil (District)
> Claims
> Dispute
> Forfeiture
> Garnishment
> Personal Protection
> Probation
> Small Claims
> Substance Abuse
Michigan Emancipation Forms
Michigan Family Forms
Michigan Foreclosure Forms
Michigan Guardianship Forms
Michigan Gun Forms
Michigan Landlord/Tenant Forms
Michigan Marriage Forms
Michigan Name Change Forms
Michigan Other Forms
Michigan Tax Forms

Michigan Law

Michigan State Laws
    > Michigan Child Support
    > Michigan Gun Laws
    > Michigan Statutes
Michigan Court
    > Michigan Court of Appeals
Michigan Tax
    > Michigan State Tax
Michigan Labor Laws
    > Unemployment Michigan
Michigan State
    > Michigan Counties
    > Michigan Zip Codes
Michigan Agencies
    > Department of Human Services Michigan
    > Michigan Department of Corrections
    > Michigan Department of Education
    > Michigan State Police
    > Secretary of State Michigan

Michigan Court Map

Tips