Sec. 6309.
(1) A transfer on death resulting from a registration in beneficiary form is effective by reason of the contract regarding the registration between the owner and the registering entity and this part, and is not testamentary.
(2) This part does not limit the rights of creditors of security owners against beneficiaries and other transferees under other laws of this state.
History: 1998, Act 386, 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.