Michigan Laws 700.1511 – Language invoking standard of prudent investor rule
Current as of: 2023 | Check for updates
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The following terms or similar language in a governing instrument, unless otherwise limited or modified, authorize any investment or strategy permitted under the Michigan prudent investor rule:
(a) “Investments permissible by law for investment of trust funds”.
Terms Used In Michigan Laws 700.1511
- Governing instrument: includes , but is not limited to, a court order. See Michigan Laws 700.1501
- Michigan prudent investor rule: means the fiduciary investment and management rule prescribed by part 5 of this article. See Michigan Laws 700.1106
- Person: means an individual or an organization. See Michigan Laws 700.1106
- Trust: includes , but is not limited to, an express trust, private or charitable, with additions to the trust, wherever and however created. See Michigan Laws 700.1107
(b) “Legal investments”.
(c) “Authorized investments”.
(d) “Using the judgment and care under the circumstances then prevailing that persons of prudence, discretion, and intelligence exercise in the management of their own affairs, not in regard to speculation but in regard to the permanent disposition of their funds, considering the probable income as well as the probable safety of their capital”.
(e) “Prudent man rule”.
(f) “Prudent trustee rule”.
(g) “Prudent person rule”.
(h) “Prudent investor rule”.