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Michigan Legislature
Michigan Compiled Laws Complete Through PA 171 of 2017
House: Adjourned until Wednesday, December 13, 2017 10:00:00 AM
Senate: Adjourned until Wednesday, December 13, 2017 10:00:00 AM

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NOTE: Dates reflect any modification to item, not necessarily a change in law.

386-1998-I - ARTICLE I DEFINITIONS, GENERAL PROVISIONS, AND COURT JURISDICTION (700.1101...700.1512)
386‑1998‑I‑1 ‑ PART 1 SHORT TITLE AND DEFINITIONS (700.1101...700.1108)
     Section 700.1101 ‑ Short title.
     Section 700.1102 ‑ Applicability of definitions.
     Section 700.1103 ‑ Definitions; A to D.
     Section 700.1104 ‑ Definitions; E to H.
     Section 700.1105 ‑ Definitions; I to L.
     Section 700.1106 ‑ Definitions; M to P.
     Section 700.1106.amended ‑ Definitions; M to P.
     Section 700.1107 ‑ Definitions; R to T.
     Section 700.1108 ‑ Definitions; U to Z.
386‑1998‑I‑2 ‑ PART 2 CONSTRUCTION AND GENERAL PROVISIONS (700.1201...700.1214)
     Section 700.1201 ‑ Purposes; rules of construction.
     Section 700.1203 ‑ Supplementary general principles of law applicable; construction against implied repeal.
     Section 700.1205 ‑ Discovery and remedies for fraud, embezzlement, conversion, or withholding of assets.
     Section 700.1207 ‑ Evidence of death or status.
     Section 700.1208 ‑ Procedure to establish death of accident or disaster victim.
     Section 700.1209 ‑ Acts by holder of power of appointment.
     Section 700.1210 ‑ Cost-of-living adjustment.
     Section 700.1211 ‑ Court personnel prohibited from providing legal advice.
     Section 700.1212 ‑ Fiduciary relationship.
     Section 700.1213 ‑ Reference to unified credits, exemption, or deductions.
     Section 700.1214 ‑ Fiduciary; prohibited conduct.
386‑1998‑I‑3 ‑ PART 3 SCOPE, JURISDICTION, AND COURTS (700.1301...700.1309)
     Section 700.1301 ‑ Territorial application.
     Section 700.1302 ‑ Exclusive subject matter jurisdiction.
     Section 700.1303 ‑ Concurrent jurisdiction; removal; purpose and policy.
     Section 700.1304 ‑ Register; powers.
     Section 700.1305 ‑ Appeals.
     Section 700.1306 ‑ Oath or affirmation on filed documents.
     Section 700.1307 ‑ Records and certified copies.
     Section 700.1308 ‑ Breach of duty; remedies; order for accounting.
     Section 700.1309 ‑ Appointment of special fiduciary or injunction.
386‑1998‑I‑4 ‑ PART 4 NOTICE, PARTIES, AND REPRESENTATION IN ESTATE LITIGATION AND OTHER MATTERS (700.1401...700.1403)
     Section 700.1401 ‑ Notice; method and time of giving.
     Section 700.1402 ‑ Notice; waiver; order.
     Section 700.1403 ‑ Formal proceeding; pleadings; parties bound by others; notice.
386‑1998‑I‑5 ‑ PART 5 PRUDENT INVESTOR RULE (700.1501...700.1512)
     Section 700.1501 ‑ Short title of part; definitions.
     Section 700.1502 ‑ Prudent investor rule.
     Section 700.1503 ‑ Portfolio strategy; risk and return objectives.
     Section 700.1504 ‑ Diversification.
     Section 700.1505 ‑ Duties at inception.
     Section 700.1506 ‑ Duties of fiduciary in interest of beneficiaries.
     Section 700.1507 ‑ Impartiality.
     Section 700.1508 ‑ Investment costs.
     Section 700.1509 ‑ Reviewing compliance.
     Section 700.1510 ‑ Delegation of investment and management functions.
     Section 700.1511 ‑ Language invoking standard of prudent investor rule.
     Section 700.1512 ‑ Application to existing fiduciary estates.

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