HOUSE BILL NO. 6092

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:

TITLE

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 T (request no. 02690'19) of the 100th Legislature becomes a part of the state constitution of 1963 as provided in section 1 of article XII of the state constitution of 1963.