Michigan Laws 38.1042 – Acceptance of gift, grant, or bequest by board

Current as of: 2024 | Check for updates | Other versions

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Bequest: Property gifted by will.
Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.

The board may accept any gift, grant, or bequest of any money or securities for the purposes designated by the grantor.