Michigan § 554.523 - Definitions; A to C.
Full text of Michigan Michigan Compiled Laws § 554.523 — Definitions; A to C., with citation guidance and answers to common questions.
§ 554.523. Definitions; A to C.
"Adult" means an individual who is 18 years of age or older.
"Benefit plan" means an employer's plan for the benefit of an employee or partner.
"Broker" means a person lawfully engaged in the business of effecting transactions in securities or commodity contracts for the person's own account or for the account of others.
"Conservator" means a person appointed or qualified by a court to act as a conservator, special conservator, guardian, limited guardian, or temporary guardian of a minor's property or a person legally authorized to perform substantially the same functions.
"Court" means the probate court for the county in which a minor resides.
"Custodial property" means an interest in property transferred to a custodian under this act and the income from, and proceeds of, that interest in property.
"Custodian" means a person so designated pursuant to section 13 or a successor or substitute custodian designated under section 7, 23, or 24.
Frequently Asked Questions About Michigan § 554.523
What does Michigan Compiled Laws § 554.523 cover?
Section 554.523 ("Definitions; A to C.") 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 § 554.523?
A common citation format is "Michigan Compiled Laws § 554.523" (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 § 554.523 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.