Michigan Laws 14.274 – Trustee of private foundation or split interest trust; duties, and powers generally
Current as of: 2023 | Check for updates
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Terms Used In Michigan Laws 14.274
- 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
- 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
Except as provided in section 7, a trustee of a private foundation trust or a split interest trust has the duties and powers conferred upon him by this act.