Michigan § 556.306 - Authority of agent; stocks and bonds.
Full text of Michigan Michigan Compiled Laws § 556.306 — Authority of agent; stocks and bonds., with citation guidance and answers to common questions.
§ 556.306. Authority of agent; stocks and bonds.
Unless the power of attorney provides otherwise, language in a power granting general authority with respect to stocks and bonds authorizes the agent to do all of the following:
(a) Buy, sell, and exchange stocks and bonds.
(b) Establish, continue, modify, or terminate an account with respect to stocks and bonds.
(c) Pledge stocks and bonds as security to borrow, pay, renew, or extend the time of payment of a debt of the principal or a debt guaranteed by the principal.
(d) Receive certificates and other evidence of ownership with respect to stocks and bonds.
(e) Exercise voting rights with respect to stocks and bonds in person or by proxy, enter into voting trusts, and consent to limitations on the right to vote.
Source: official Michigan text · Last verified 2026-08-27
Frequently Asked Questions About Michigan § 556.306
What does Michigan Compiled Laws § 556.306 cover?
Section 556.306 ("Authority of agent; stocks and bonds.") 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 § 556.306?
A common citation format is "Michigan Compiled Laws § 556.306" (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 § 556.306 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.