Bill Text: MI HB4774 | 2023-2024 | 102nd Legislature | Introduced
Bill Title: Property: personal; act allowing ownership of certain personal property as tenancy by the entireties; revise gender-specific language. Amends title & sec. 1 of 1927 PA 212 (MCL 557.151). TIE BAR WITH: HJR F'23
Spectrum: Partisan Bill (Democrat 2-0)
Status: (Introduced) 2023-06-20 - Bill Electronically Reproduced 06/15/2023 [HB4774 Detail]
Download: Michigan-2023-HB4774-Introduced.html
HOUSE BILL NO. 4774
A bill to amend 1927 PA 212, entitled
"An act to provide for the joint ownership by husband and wife in joint tenancy of certain classes of personal property with right of survivorship,"
by amending the title and section 1 (MCL 557.151).
the people of the state of michigan enact:
An act to provide for the joint ownership by husband and wife spouses in joint tenancy of certain classes of personal property with right of survivorship.
Sec. 1. All bonds, certificates of stock, mortgages, promissory notes, debentures, or other evidences of indebtedness hereafter made payable to persons who are husband and wife, spouses, or made payable to them as endorsees or assignees, or otherwise, shall be are held by such husband and wife the spouses in joint tenancy unless otherwise therein expressly provided in the evidence of indebtedness, in the same manner and subject to the same restrictions, consequences, and conditions as are incident to the ownership of real estate held jointly by husband and wife spouses under the laws of this state, with full right of ownership by survivorship in case of the death of if either spouse dies.
Enacting section 1. This amendatory act does not take effect unless Senate Joint Resolution ____ or House Joint Resolution F (request no. 00367'23) of the 102nd Legislature becomes a part of the state constitution of 1963 as provided in section 1 of article XII of the state constitution of 1963.
