Sec. 6302.
Only an individual whose registration of a security shows sole ownership by 1 individual or multiple ownership by 2 or more with right of survivorship, rather than as tenants in common, may obtain registration in beneficiary form. Multiple owners of a security registered in beneficiary form hold as joint tenants with right of survivorship or as tenants by the entireties, and not as tenants in common.
History: 1998, Act 386, Eff. Apr. 1, 2000 ;-- Am. 2000, Act 54, Eff. Apr. 1, 2000 Popular Name: EPIC
Structure Michigan Compiled Laws
Chapter 700 - Estates and Protected Individuals Code
Act 386 of 1998 - Estates and Protected Individuals Code (700.1101 - 700.8206)
Article VI - Nonprobate Transfers on Death (700.6101...700.6310)
386-1998-VI-3 - Part 3 Uniform TOD Security Registration (700.6301...700.6310)
Section 700.6301 - Definitions.
Section 700.6302 - Registration in Beneficiary Form; Sole or Joint Tenancy Ownership.
Section 700.6303 - Registration in Beneficiary Form; Applicable Law.
Section 700.6304 - Origination of Registration in Beneficiary Form.
Section 700.6305 - Form of Registration in Beneficiary Form.
Section 700.6306 - Effect of Registration in Beneficiary Form.
Section 700.6307 - Ownership on Death of Owner.
Section 700.6308 - Protection of Registering Entity.
Section 700.6309 - Nontestamentary Transfer on Death.
Section 700.6310 - Terms, Conditions, and Forms for Registration.