CORPORATE FIDUCIARY STOCKHOLDERS (EXCERPT)
Act 56 of 1957
555.442 Acts of nominee, federal reserve bank, and clearing corporation deemed acts of corporation acting as fiduciary.
Sec. 2.
The acts of a nominee in connection with property held by the nominee shall be deemed to be the acts of the corporation acting as fiduciary. The acts of a federal reserve bank in connection with property held by it, as provided in section 4, and the acts of a clearing corporation in connection with property held by it, as provided in section 5, shall be deemed to be the acts of the corporation acting as fiduciary.
History: 1957, Act 56, Eff. Sept. 27, 1957
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Am. 1975, Act 310, Imd. Eff. Dec. 22, 1975
Rendered 8/15/2025 5:13 AM
Michigan Compiled Laws Complete Through PA 5 of 2025
Courtesy of legislature.mi.gov