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2022 Michigan Compiled Laws
Chapter 555 - Uses and Trusts
Act 174 of 1941 - Collective Investment Funds Act (555.101 - 555.113)
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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