Michigan § 554.545 - Accounting.
Full text of Michigan Michigan Compiled Laws § 554.545 — Accounting., with citation guidance and answers to common questions.
§ 554.545. Accounting.
A minor who is not less than 14 years of age, the minor's legal representative, an adult member of the minor's family, a transferor, or a transferor's legal representative may petition the court for either of the following:
An accounting by the custodian or the custodian's legal representative.
A determination of responsibility, as between the custodial property and the custodian personally, for claims against the custodial property, unless the responsibility has been adjudicated in an action under section 22 to which the minor or the minor's legal representative was a party.
A successor custodian may petition the court for an accounting by the predecessor custodian.
In a proceeding under this act or in any other proceeding, the court may require or permit a custodian or the custodian's legal representative to account.
If a custodian is removed under section 24, the court shall require an accounting and order delivery of the custodial property and records to the successor custodian and the execution of all instruments required for transfer of the custodial property.
Frequently Asked Questions About Michigan § 554.545
What does Michigan Compiled Laws § 554.545 cover?
Section 554.545 ("Accounting.") 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 § 554.545?
A common citation format is "Michigan Compiled Laws § 554.545" (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 § 554.545 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.