{"data":{"id":"us-mi/mich.-comp.-laws-555.106","jurisdiction":"us-mi","citation":"Mich. Comp. Laws § 555.106","heading":"Common trust funds; participation; certificate.","body":"Sec. 6.\n\n(1) A financial institution administering a fund shall not issue a certificate or other document representing a direct or indirect interest in the fund, except to provide a withdrawing account with a record of an interest in a segregated investment.\n\n(2) An account owning or holding an investment or participation in a fund has a proportionate undivided interest in the fund's assets. The account does not have individual ownership of any asset in the fund.","path":["MI Code","Chapter 555","Act Act-174-of-1941"],"source_url":"https://www.legislature.mi.gov/Laws/MCL?objectName=mcl-555-106","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:31Z","sha256":"4a1db04f8fb99ed4c775bda4e200ac5d29317bfced9929e36247bf83f7269861","source_id":"us-mi","stale":false,"prev":"us-mi/mich.-comp.-laws-555.105a","next":"us-mi/mich.-comp.-laws-555.107"},"notice":"GroundRules: Original legal text. Not legal advice."}