Sec. 6306.
The designation of a TOD beneficiary on a registration in beneficiary form does not affect ownership until the owner's death. A registration of a security in beneficiary form may be canceled or changed at any time by the sole owner or all the surviving owners without the consent of the beneficiary.
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.