Michigan Compiled Laws § 333.5861 Receiving And Holding Title To Property; Property As Trust Fund; Disposition Of Property.


333.5861 Receiving and holding title to property; property as trust fund; disposition of property.

Sec. 5861.

The department may receive and hold title to real and personal property by gift, devise, bequest, and conveyance to be used for the purpose of carrying out this part. The property accepted shall be held and used as a trust fund for the purposes for which received. The department of public health promptly shall send the money, securities, or like personal property received to the department of treasury to be credited to the fund of this state designated by the donor or the department. The income from securities shall be sent promptly to the department of treasury to be credited to the fund designated and shall be likewise disbursed.


History: 1978, Act 368, Eff. Sept. 30, 1978
Popular Name: Act 368


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Last modified: October 10, 2016