Mich. Comp. Laws § 555.442: Acts of nominee, federal reserve bank, and clearing corporation deemed acts of corporation acting as fiduciary.

Sec. 2.

The acts of a nominee in connection with property held by the nominee shall be deemed to be the acts of the corporation acting as fiduciary. The acts of a federal reserve bank in connection with property held by it, as provided in section 4, and the acts of a clearing corporation in connection with property held by it, as provided in section 5, shall be deemed to be the acts of the corporation acting as fiduciary.