Michigan Laws 554.535 – Time of control; holding constituting single custodianship
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(1) A transferor shall place the custodian in control of the custodial property as soon as practicable.
(2) A transfer shall be made only for 1 minor, and only 1 person shall be the custodian. Custodial property held under this act by the same custodian for the benefit of the same minor constitutes a single custodianship.
Terms Used In Michigan Laws 554.535
- person: may extend and be applied to bodies politic and corporate, as well as to individuals. See Michigan Laws 8.3l