Sec. 14. Without qualifying any other statutory right to set-off or lien and subject to any contractual provision, when a party to a multiple-party account is indebted to a credit union, the credit union has a right to set-off against the entire amount of the account.
Mich. Comp. Laws § 490.64
Right to set-off or lien
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.