{"data":{"id":"us-mi/mich.-comp.-laws-554.531","jurisdiction":"us-mi","citation":"Mich. Comp. Laws § 554.531","heading":"Minor not having conservator; transfer by person holding property or owing liquidated debt.","body":"Sec. 11.\n\n(1) Subject to subsections (2) and (3), a person not subject to section 9 or 10 who holds property of, or owes a liquidated debt to, a minor who does not have a conservator may make an irrevocable transfer to a custodian for the benefit of the minor under section 13.\n\n(2) If a person having the right to do so under section 7 has nominated a custodian under section 7 to receive the custodial property, the transfer must be made to the person.\n\n(3) If a custodian has not been nominated under section 7, or all persons nominated as custodian under section 7 die before the transfer or are unable, decline, or are ineligible to serve, a transfer under this section may be made to an adult member of the minor's family or to a trust company. However, if the value of the property exceeds $50,000.00, a transfer under this subsection may be made only if authorized by the court.","path":["MI Code","Chapter 554","Act Act-433-of-1998"],"source_url":"https://www.legislature.mi.gov/Laws/MCL?objectName=mcl-554-531","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:31Z","sha256":"183d9732a0c6422e960325928443edf81200b59d4877ce82469196a7bd523b11","source_id":"us-mi","stale":false,"prev":"us-mi/mich.-comp.-laws-554.530","next":"us-mi/mich.-comp.-laws-554.532"},"notice":"GroundRules: Original legal text. Not legal advice."}