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2006 Michigan Compiled Laws - Act 78 of 1971


CHARITABLE TRUSTEES POWERS ACT

Act 78 of 1971

AN ACT to prescribe and regulate the functions of charitable trusts and trustees; and to prescribe the functions of the attorney general in relation thereto.


History: 1971, Act 78, Imd. Eff. July 31, 1971




The People of the State of Michigan enact:

DocumentDescription
Section 14.271Short title.
Section 14.272Definitions.
Section 14.273Applicability of act.
Section 14.274Trustee of private foundation or split interest trust; duties, and powers generally.
Section 14.275Tax exemption, deduction, or credit; distributions; prohibited conduct.
Section 14.276Split interest trust; applicability of section 14.275(3)(b) and (c).
Section 14.277Distributions; trust investment more restrictive than or inconsistent with this act; notice to attorney general.
Section 14.278Amendment of trust instrument.
Section 14.279Trustee; relief from restrictions of trust instrument.
Section 14.280Trustee; release of power to select charitable donee.
Section 14.281Delivery of release; effect of specifying public charitable organization as beneficiary.
Section 14.282Public charitable trust; supervision by specified public charitable organization.
Section 14.283Filing copy of trust instrument and report with specified public charitable organization.
Section 14.284Effect of delivery of release and acceptance thereof; supervisory authority of public charitable organization.
Section 14.285Termination or dissolution of private foundation trust; consent of attorney general.
Section 14.286Action to enforce act.
Section 14.287Interpretation of act.

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