Section 14.255 - Filing of trust instrument and inventory of assets; time. - Michigan Statutes

SUPERVISION OF TRUSTEES FOR CHARITABLE PURPOSES ACT (EXCERPT)
Act 101 of 1961

14.255 Filing of trust instrument and inventory of assets; time.

Sec. 5.

Every trustee subject to this act who has received property for charitable purposes shall register and file with the attorney general, within 2 months after receiving possession or control of such property, a copy of the instrument providing for his title, powers or duties, an inventory of the assets of the charitable trust. If any part of the assets, income or principal of a presently existing charitable trust is authorized or required to be applied to a charitable purpose at the time this act takes effect, the filing shall be made within 3 months thereafter. If an amendment to this act first creates a duty to file, then the trustee shall register and make such filing within 3 months after the effective date of the amendment.

History: 1961, Act 101, Eff. Sept. 8, 1961 ;-- Am. 1965, Act 353, Eff. Mar. 31, 1966