Michigan Laws 556.203 – Applicability of act
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Terms Used In Michigan Laws 556.203
- Entity: means a person other than an individual. See Michigan Laws 556.202
- Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
- power: means a power of attorney. See Michigan Laws 556.202
- Property: means anything that may be the subject of ownership, whether real or personal, or legal or equitable, or any interest or right in such a thing. See Michigan Laws 556.202
This act applies to all powers of attorney except the following:
(a) A power to the extent it is coupled with an interest in the subject of the power, including a power given to or for the benefit of a creditor in connection with a credit transaction.
(b) A patient advocate designation under section 5506 of the estates and protected individuals code, 1998 PA 386, MCL 700.5506.
(c) A delegation of a parent’s or guardian‘s power regarding care, custody, or property of a minor child or ward under section 5103 of the estates and protected individuals code, 1998 PA 386, MCL 700.5103.
(d) A proxy or other delegation to exercise voting rights or management rights with respect to an entity.
(e) A power created on a form prescribed by a government or governmental subdivision, agency, or instrumentality for a governmental purpose.