Michigan Compiled Laws
Chapter 490 - Credit Unions
Act 41 of 1968 - Credit Union Multiple-Party Accounts (490.51 - 490.65)

Section 490.51 - Credit Unions; Multiple-Party Accounts; Definitions. - Sec. 1. As used in this act: (a) “Account” means...

Section 490.52 - Presumptions of Ownership; Credit Unions Liability and Set-Off Rights. - Sec. 2. The presumptions created by sections 3 to 7...

Section 490.53 - Deposit or Shares Paid on Demand. - Sec. 3. During the lifetime of all parties, a multiple-party...

Section 490.54 - Equal Undivided Interests. - Sec. 4. In the absence of satisfactory proof of the...

Section 490.55 - Death of Party; Effect. - Sec. 5. The death of any party to a multiple-party...

Section 490.56 - Survivorship Account; Death of Party, Ownership. - Sec. 6. A multiple-party account payable to 2 or more...

Section 490.57 - Trust Account; Beneficial Ownership; Death of Trustee; Survivorship. - Sec. 7. An account which states that a party is...

Section 490.58 - Bases of Presumptions; Evidence to Rebut; Wills. - Sec. 8. The presumptions stated herein are based upon inferences...

Section 490.59 - Effect of Unrebutted Presumptions; Transfers, Effect. - Sec. 9. Where not rebutted by clear and convincing evidence,...

Section 490.60 - Multiple-Party Accounts; Authority to Enter; Payment; Inquiry; Creation; Joint Tenant, Rights. - Sec. 10. A credit union may enter into multiple-party accounts...

Section 490.61 - Multiple-Party Accounts; Withdrawals; Survivorship Accounts, Proof of Death. - Sec. 11. Any sums in a multiple-party account which does...

Section 490.62 - Trust Accounts; Payments. - Sec. 12. Any account payable to a trustee for another...

Section 490.63 - Payments; Effect; Notice of Change. - Sec. 13. Payment made pursuant to sections 10, 11 or...

Section 490.64 - Right to Set-Off or Lien. - Sec. 14. Without qualifying any other statutory right to set-off...

Section 490.65 - Repeal. - Sec. 15. Section 24 of Act No. 285 of the...