Sec. 3. During the lifetime of all parties, a multiple-party account which provides that sums on deposit or in shares may be paid on the demand of either of 2 or more parties is presumed to belong to the parties in proportion to the net contributions by each to the sums on deposit.
Mich. Comp. Laws § 490.53
Deposit or shares paid on demand
Applied in 1 court decision — leading case In re Houston (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.