Michigan Laws 490.59 – Effect of unrebutted presumptions; transfers, effect
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Terms Used In Michigan Laws 490.59
- Account: means a contract of deposit of funds between depositors and credit unions, and includes deposit accounts, members or share accounts and other like arrangements whether or not they may be characterized as refundable capital investments. See Michigan Laws 490.51
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- Probate: Proving a will
Where not rebutted by clear and convincing evidence, the presumptions provided in this act are effective to establish beneficial ownership. Any transfers resulting from the application of these presumptions are effective by reason of the account contracts involved in this act and are not to be considered as testamentary or subject to the probate code.