Michigan § 556.307 - Authority of agent; commodities and options.
Full text of Michigan Michigan Compiled Laws § 556.307 — Authority of agent; commodities and options., with citation guidance and answers to common questions.
§ 556.307. Authority of agent; commodities and options.
Unless the power of attorney provides otherwise, language in a power granting general authority with respect to commodities and options authorizes the agent to do the following:
(a) Buy, sell, exchange, assign, settle, and exercise commodity futures contracts and call or put options on stocks or stock indexes traded on a regulated option exchange.
(b) Establish, continue, modify, and terminate option accounts.
Source: official Michigan text · Last verified 2026-08-27
Frequently Asked Questions About Michigan § 556.307
What does Michigan Compiled Laws § 556.307 cover?
Section 556.307 ("Authority of agent; commodities and options.") is part of the Michigan Compiled Laws, the codified statutory law of Michigan. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Michigan § 556.307?
A common citation format is "Michigan Compiled Laws § 556.307" (Michigan). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Michigan law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Michigan official source linked on this page or consult a licensed Michigan attorney.
How does Michigan § 556.307 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Michigan can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Michigan.