Michigan Laws 14.273 – Applicability of act
Current as of: 2023 | Check for updates
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Terms Used In Michigan Laws 14.273
- Private foundation trust: means a trust, including a trust described in section 4947(a)(1) of the IRC, as defined in section 509(a) of the IRC. See Michigan Laws 14.272
- Public charitable organization: means an organization described in section 509(a)(1), (2) or (3) of the IRC and exempt from tax under section 501(a) of the IRC. See Michigan Laws 14.272
- Split interest trust: means a trust for individual and charitable beneficiaries that is subject to section 4947(a)(2) of the IRC. See Michigan Laws 14.272
- Trust: means an express trust created by a trust instrument, including a will. See Michigan Laws 14.272
The provisions of this act that are applicable to a split interest trust, a private foundation trust, public charitable organization or any other trust, apply to such entities, whether created before or after the effective date of this act.