MCL - Act 174 of 1941
AN ACT to authorize the establishment and the maintenance of common trust funds and collective investment funds; to authorize investments or participations in those funds; to define the requirements and terms of those funds, the conditions and terms governing investments or participations in those funds, and the admission and withdrawal of those investments or participations; to prescribe and define the rights, powers, and duties of banks, trust companies, fiduciaries, participants, beneficiaries, and other persons with respect to common trust funds and collective investment funds; and to provide for the regulation and supervision of those funds.
History: 1941, Act 174, Eff. Jan. 10, 1942
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Am. 2004, Act 586, Imd. Eff. Jan. 4, 2005
Popular Name: Common Trust Fund Act
| Document | Type | Description |
|---|---|---|
| Section 555.101 | Section | Short title; definitions. |
| Section 555.102 | Section | Funds; financial institution may establish, maintain, and administer. |
| Section 555.103 | Section | Funds; financial institution may invest as fiduciary. |
| Section 555.104 | Section | Funds; establishment and maintenance of plan; provisions; availability for inspection. |
| Section 555.104a | Section | Audit; financial report; contents; items to be excluded from report; availability; advertising common trust fund. |
| Section 555.105 | Section | Common trust funds; funds investment. |
| Section 555.105a | Section | Interest in fund other than fiduciary; prohibition; restrictions. |
| Section 555.106 | Section | Common trust funds; participation; certificate. |
| Section 555.107 | Section | Common trust funds; management; control; ownership. |
| Section 555.108 | Section | Common trust funds; assets valuation; admission and withdrawal; basis; distribution. |
| Section 555.109 | Section | Common trust funds; management fee; expenses. |
| Section 555.110 | Section | Common trust funds; mistakes in administration; effect. |
| Section 555.111 | Section | Common trust funds; rules regulating administration. |
| Section 555.112 | Section | Common trust funds; additional investments. |
| Section 555.113 | Section | Common trust funds; court accountings; jurisdiction of probate court. |