Michigan Laws 490.356 – Minor; deposit, investment, or withdrawal
Current as of: 2023 | Check for updates
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Terms Used In Michigan Laws 490.356
- Credit union: means a domestic or foreign credit union. See Michigan Laws 490.102
A domestic credit union may issue shares to and receive deposits from a minor. The minor may withdraw the deposits or shares and any dividends or interest on the deposits or shares. A deposit, investment in a share, or withdrawal under this section by a minor is valid and enforceable and the minor is considered an adult with respect to that deposit, investment, or withdrawal.