Sec. 2. The presumptions created by sections 3 to 7 concerning beneficial ownership as between parties, or as between parties and beneficiaries, of multiple-party accounts are relevant only to controversies between these persons or their creditors and other successors, and shall have no bearing on the rights of withdrawal of such persons as determined by the terms of account contracts. The provisions of sections 11 to 16 govern the liability of credit unions who make payments pursuant thereto, and their set-off rights.
Mich. Comp. Laws § 490.52
Presumptions of ownership; credit unions liability and set-off rights
Applied in 2 court decisions — leading case In Re Hess (2011)
Most recently applied in In re Houston (December 2011)
1968, Act 41, Eff
Official source: Michigan Legislature. Reproduced from public-domain Michigan statutes; confirm against the official source for the current text. Not legal advice.