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Impartiality; Use of Standards of Michigan Prudent Investor Rule - Mich. Comp. Laws Section 700.7803

Legal Research Home > Michigan Laws > Estates And Protected Individuals Code > Impartiality; Use of Standards of Michigan Prudent Investor Rule - Mich. Comp. Laws Section 700.7803

700.7803 Impartiality; use of standards of Michigan prudent investor rule.

Sec. 7803.

The trustee shall act as would a prudent person in dealing with the property of another, including following the standards of the Michigan prudent investor rule. If the trustee has special skills or is named trustee on the basis of representation of special skills or expertise, the trustee is under a duty to use those skills.

History: Add. 2009, Act 46, Eff. Apr. 1, 2010
Popular Name: EPIC

Section: Previous 700.7705 700.7706 700.7707 700.7708 700.7709 700.7801 700.7802 700.7803 700.7808 700.7809 700.7810 700.7811 700.7812 700.7813 700.7814 Next

Last modified: March 17, 2013