{"data":{"id":"us-mi/mich.-comp.-laws-490.81","jurisdiction":"us-mi","citation":"Mich. Comp. Laws § 490.81","heading":"Definitions.","body":"Sec. 1.\n\nAs used in this act:\n\n\"Beneficiary\" means a person who does not have an ownership interest in a beneficiary account but is the person designated to receive the funds in the beneficiary account upon the death of the owner of the account.\n\n\"Beneficiary account\" means a share or deposit account in a credit union where 1 or more persons are designated as owners and 1 or more other persons are designated as beneficiaries. A beneficiary account is not a trust or trustee for beneficiary account.\n\n\"Credit union\" means a state or federal chartered credit union.\n\n\"Owner\" means the person or persons designated as the owner in the documents establishing a credit union beneficiary account.\n\n\"Person\" means an individual, corporation, partnership, association, governmental entity, or any other legal entity.","path":["MI Code","Chapter 490","Act Act-31-of-1992"],"source_url":"https://www.legislature.mi.gov/Laws/MCL?objectName=mcl-490-81","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:31Z","sha256":"9fb26b2f446b50327afdf07fcbca34055c9b4e1c4315b4c1d409846d230bab01","source_id":"us-mi","stale":false,"prev":"us-mi/mich.-comp.-laws-490.601","next":"us-mi/mich.-comp.-laws-490.82"},"notice":"GroundRules: Original legal text. Not legal advice."}