Michigan Laws 14.252 – Definitions
Current as of: 2023 | Check for updates
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(a) “Trustee” means any individual, group of individuals, association, foundation, trustee corporation, corporation, or other legal entity holding property for any charitable purpose.
(b) “Charitable trust” means the relationship where a trustee holds property for a charitable purpose.
Terms Used In Michigan Laws 14.252
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Trustee: A person or institution holding and administering property in trust.