Michigan Laws 14.278 – Amendment of trust instrument
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(1) In the case of a trust which is solely for named public charitable organizations and as to which the trustee does not possess any discretion with regard to the distribution of income or principal among 2 or more organizations, the trustee, with the consent of the named public charitable organizations, may amend the governing instrument to comply with subsection (2) of section 5.
(2) If a charitable trust is not subject to subsection (1) of section 8, the trustee with the consent of the attorney general may amend the governing instrument to comply with subsection (2) of section 5.
Terms Used In Michigan Laws 14.278
- Trust: means an express trust created by a trust instrument, including a will. See Michigan Laws 14.272
- Trustee: A person or institution holding and administering property in trust.
- Trustee: means the trustee or person possessing a power referred to in this act. See Michigan Laws 14.272