Michigan Laws 14.282 – Public charitable trust; supervision by specified public charitable organization
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Terms Used In Michigan Laws 14.282
- Public charitable organization: means an organization described in section 509(a)(1), (2) or (3) of the IRC and exempt from tax under section 501(a) of the IRC. See Michigan Laws 14.272
- Trust: means an express trust created by a trust instrument, including a will. See Michigan Laws 14.272
A trustee of a trust for the benefit of a public charitable organization, with the consent of such organization, may come under subsection (2) of section 11 by filing an election, accompanied by the consent, with the attorney general. Thereafter, the trust is subject to subsection (2) of section 11 and section 13.