{"data":{"id":"us-mi/mich.-comp.-laws-554.523","jurisdiction":"us-mi","citation":"Mich. Comp. Laws § 554.523","heading":"Definitions; A to C.","body":"Sec. 3.\n\n\"Adult\" means an individual who is 18 years of age or older.\n\n\"Benefit plan\" means an employer's plan for the benefit of an employee or partner.\n\n\"Broker\" means a person lawfully engaged in the business of effecting transactions in securities or commodity contracts for the person's own account or for the account of others.\n\n\"Conservator\" means a person appointed or qualified by a court to act as a conservator, special conservator, guardian, limited guardian, or temporary guardian of a minor's property or a person legally authorized to perform substantially the same functions.\n\n\"Court\" means the probate court for the county in which a minor resides.\n\n\"Custodial property\" means an interest in property transferred to a custodian under this act and the income from, and proceeds of, that interest in property.\n\n\"Custodian\" means a person so designated pursuant to section 13 or a successor or substitute custodian designated under section 7, 23, or 24.","path":["MI Code","Chapter 554","Act Act-433-of-1998"],"source_url":"https://www.legislature.mi.gov/Laws/MCL?objectName=mcl-554-523","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:31Z","sha256":"71217ba57f148e62919cef9c00669ea15dbbe9af27236ad14e31e97c2ad73fba","source_id":"us-mi","stale":false,"prev":"us-mi/mich.-comp.-laws-554.522","next":"us-mi/mich.-comp.-laws-554.524"},"notice":"GroundRules: Original legal text. Not legal advice."}