2010 Michigan Compiled Laws
COLLECTIVE INVESTMENT FUNDS ACT
Chapter 555 - USES AND TRUSTS
Act 174 of 1941 - COLLECTIVE INVESTMENT FUNDS ACT (555.101 - 555.113)
Act 174 of 1941
AN ACT to authorize the establishment and the maintenance of common trust funds and collective investment funds; to authorize investments or participations in those funds; to define the requirements and terms of those funds, the conditions and terms governing investments or participations in those funds, and the admission and withdrawal of those investments or participations; to prescribe and define the rights, powers, and duties of banks, trust companies, fiduciaries, participants, beneficiaries, and other persons with respect to common trust funds and collective investment funds; and to provide for the regulation and supervision of those funds.
History: 1941, Act 174, Eff. Jan. 10, 1942 ;-- Am. 2004, Act 586, Imd. Eff. Jan. 4, 2005
Popular Name: Common Trust Fund Act
- Section 555.101 - Short title; definitions.
- Section 555.102 - Funds; financial institution may establish, maintain, and administer.
- Section 555.103 - Funds; financial institution may invest as fiduciary.
- Section 555.104 - Funds; establishment and maintenance of plan; provisions; availability for inspection.
- Section 555.104a - Audit; financial report; contents; items to be excluded from report; availability; advertising common trust fund.
- Section 555.105 - Common trust funds; funds investment.
- Section 555.105a - Interest in fund other than fiduciary; prohibition; restrictions.
- Section 555.106 - Common trust funds; participation; certificate.
- Section 555.107 - Common trust funds; management; control; ownership.
- Section 555.108 - Common trust funds; assets valuation; admission and withdrawal; basis; distribution.
- Section 555.109 - Common trust funds; management fee; expenses.
- Section 555.110 - Common trust funds; mistakes in administration; effect.
- Section 555.111 - Common trust funds; rules regulating administration.
- Section 555.112 - Common trust funds; additional investments.
- Section 555.113 - Common trust funds; court accountings; jurisdiction of probate court.
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