{"data":{"id":"us-mi/mich.-comp.-laws-487.701","jurisdiction":"us-mi","citation":"Mich. Comp. Laws § 487.701","heading":"Minor's deposit; payment; receipt or acquittance sufficient.","body":"Sec. 1.\n\nWhen any deposit of money shall be made in any bank or trust company by or in the name of any minor, the same shall be held for the exclusive right and benefit of such minor, and shall be paid, together with the dividends and interest thereon to the person in whose name the deposit shall have been made, and the receipt or acquittance of such minor shall be a valid and sufficient release and discharge for such deposit, or any part thereof to the corporation.","path":["MI Code","Chapter 487","Act Act-248-of-1909"],"source_url":"https://www.legislature.mi.gov/Laws/MCL?objectName=mcl-487-701","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:31Z","sha256":"9131a49f004c27ffe9f9cdfbd176b8baefd828a089c1592bae70baebaf967318","source_id":"us-mi","stale":false,"prev":"us-mi/mich.-comp.-laws-487.2173","next":"us-mi/mich.-comp.-laws-487.702"},"notice":"GroundRules: Original legal text. Not legal advice."}