Section 555.106 - Common trust funds; participation; certificate(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.(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.Amended by 2004, Act 586, s 8, eff. 1/4/2005.1941, Act 174, Eff. 1/10/1942 ;--CL 1948, 555.106.