Michigan Compiled Laws 386-1998-vii-1 Part 1 General Provisions And Definitions (700.7101...700.7114)

• Section 700.7101 Short Title Of Article.
  This article shall be known and may be cited as the "Michigan trust code". History: 1998, Act 386, Eff. Apr. 1, 2000 ;-- Am....
• Section 700.7102 Scope.
  This article applies to trusts as defined in section 1107. History: 1998, Act 386, Eff. Apr. 1, 2000 ;-- Am. 2009, Act 46, Eff....
• Section 700.7103 Definitions.
  As used in this article: (a) "Action", with respect to a trustee or a trust protector, includes an act or a failure to act....
• Section 700.7104 Notice Or Knowledge Of Fact.
  (1) Subject to subsection (2), a person has knowledge of a fact if 1 or more of the following apply: (a) The person has...
• Section 700.7105 Duties And Powers Of Trustee; Provisions Of Law Prevailing Over Terms Of Trust.
  (1) Except as otherwise provided in the terms of the trust, this article governs the duties and powers of a trustee, relations among trustees,...
• Section 700.7107 Governing Law.
  The meaning and effect of the terms of a trust are determined by the following: (a) The law of the jurisdiction designated in the...
• Section 700.7108 Principal Place Of Administration.
  (1) Without precluding other means for establishing a sufficient connection with the designated jurisdiction, terms of a trust designating the principal place of administration...
• Section 700.7109 Notice; Methods; Waiver.
  (1) Notice to a person under this article or the sending of a document to a person under this article shall be accomplished in...
• Section 700.7110 Others Treated As Qualified Beneficiaries.
  (1) A charitable organization expressly named in the terms of a trust to receive distributions under the terms of a charitable trust has the...
• Section 700.7111 Nonjudicial Settlement Agreement.
  (1) Except as otherwise provided in subsection (2), interested persons may enter into a binding nonjudicial settlement agreement with respect to any matter involving...
• Section 700.7112 Rules Of Construction.
  The rules of construction in sections 2605 to 2608 that apply in this state to the interpretation of and disposition of property by will...
• Section 700.7113 Penalty Clause For Contest Of Trust.
  A provision in a trust that purports to penalize an interested person for contesting the trust or instituting another proceeding relating to the trust...
• Section 700.7114 Trustee Having Insurable Interest Under Life Insurance Policy; Conditions.
  A trustee of a trust has an insurable interest in the life of an individual insured under a life insurance policy that is owned...

Last modified: October 10, 2016