2010 Michigan Compiled Laws
Chapter 556 - POWERS OF APPOINTMENT
Act 224 of 1967 - POWERS OF APPOINTMENT ACT OF 1967 (556.111 - 556.133)

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

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