MCL - Act 87 of 2009
AN ACT to establish duties and obligations of nonprofit, charitable institutions in the management and use of funds held for charitable purposes; and to repeal acts and parts of acts.
History: 2009, Act 87, Imd. Eff. Sept. 10, 2009
| Document | Type | Description |
|---|---|---|
| Section 451.921 | Section | Short title. |
| Section 451.922 | Section | Definitions. |
| Section 451.923 | Section | Institutional fund; managing and investing; considerations; requirements; pooling 2 or more funds; rules for managing and investing. |
| Section 451.924 | Section | Endowment fund assets; appropriation or accumulation; determination; limitation; designation. |
| Section 451.925 | Section | Management and investment; delegation to external agent; duty to exercise reasonable care; liability; delegation to committees, officers, or employees. |
| Section 451.926 | Section | Release or modification of restriction. |
| Section 451.927 | Section | Compliance with act; existing facts and circumstances. |
| Section 451.928 | Section | Applicability of act. |
| Section 451.929 | Section | Electronic signatures. |
| Section 451.930 | Section | Uniformity of law. |
| Section 451.931 | Section | Applicability; scope. |