There is a newer version of the Michigan Compiled Laws
2006 Michigan Compiled Laws - Act 157 of 1976
| AN ACT to establish guidelines for the management and use of investments held by eleemosynary institutions and funds.
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| Document | Description |
| Section 451.1201 | Short title. |
| Section 451.1202 | Definitions. |
| Section 451.1203 | Appropriation of net appreciation for expenditure. |
| Section 451.1204 | Restriction on expenditure of net appreciation. |
| Section 451.1205 | Powers of governing board generally. |
| Section 451.1206 | Additional powers of governing board. |
| Section 451.1207 | Governing board to exercise ordinary business care and prudence. |
| Section 451.1208 | Release of restriction imposed by gift instrument. |
| Section 451.1209 | Application and construction of act. |
| Section 451.1210 | Institution not prevented from making investment or guaranteeing obligations of others. |
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