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2006 Michigan Compiled Laws - Act 224 of 1967


POWERS OF APPOINTMENT ACT OF 1967

Act 224 of 1967

AN ACT relating to powers, the creation and exercise of powers, release of powers, contracts to appoint, dispositions when powers are unexercised, rights of creditors of donees of powers, computations under the rule against perpetuities, reservation of powers of revocation, and recording of instruments; and to repeal certain acts and parts of acts.


History: 1967, Act 224, Eff. Nov. 2, 1967




The People of the State of Michigan enact:

DocumentDescription
Section 556.111Powers of appointment act; short title.
Section 556.112Powers of appointment act; definitions.
Section 556.113Powers of appointment; creation; donors, qualifications.
Section 556.114Manifestation of intent to exercise.
Section 556.115Methods by which powers may be exercised by donees.
Section 556.116Interests appointable by general powers; part of donee's estate.
Section 556.117Naming appointees by donees of powers.
Section 556.118Release of powers; method; delivery.
Section 556.119Creation, exercise and release of powers; irrevocability.
Section 556.120Contracts of donees of powers to make appointments; remedies.
Section 556.121Instruments relating to powers to appoint interests in land; recording as conveyances.
Section 556.122Special power; passing on donee's default.
Section 556.123General powers; creditors' rights in appointable interests.
Section 556.124Suspension or postponement of vesting of future interests; time period.
Section 556.125Suspension or postponement of vesting of future interests; time period when trust creator reserves power to amend or revoke.
Section 556.126Postponement of vesting of future interests; law determining period.
Section 556.127Postponement of vesting of future interests; facts and circumstances to be considered.
Section 556.128Reserved power of revocation; effect on creditors and purchasers.
Section 556.129Law applicability; construction of act.
Section 556.130Death of appointee prior to exercise of power; nonlapse of appointment.
Section 556.131Membership of class; determination; after born members.
Section 556.132Applicability of act.
Section 556.133Repeal.

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