Michigan Laws 700.7301 – Representation; effect
Current as of: 2024 | Check for updates
|
Other versions
Terms Used In Michigan Laws 700.7301
- Person: means an individual or an organization. See Michigan Laws 700.1106
- Settlor: means a person, including a testator or a trustee, who creates a trust. See Michigan Laws 700.7103
- 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
(1) Notice to a person who may represent and bind another person under this part has the same effect as if notice were given directly to the other person.
(2) The consent of a person who may represent and bind another person under this part is binding on the person represented unless the person represented objects to the representation before the consent would otherwise have become effective.
(3) Except as otherwise provided in section 7602, a person who under this part may represent a settlor who lacks capacity may receive notice and for purposes of section 7602 may give a binding consent on the settlor’s behalf.
(4) A settlor may not represent or bind a trust beneficiary under this part with respect to the termination or modification of a trust under section 7411(1).