Main Content Act 148 of 2008 friendly link printer friendly bills affecting mcl index link Search within this Statute for PERSONAL PROPERTY TRUST PERPETUITIES ACTAct 148 of 2008AN ACT to exclude certain personal property held in trust from the rule against perpetuities and similar rules that potentially affect the duration of trusts. History: 2008, Act 148, Imd. Eff. May 28, 2008 The People of the State of Michigan enact: DocumentTypeDescription Section 554.91SectionShort title. Section 554.92SectionVesting of future interests; timing; exceptions; definitions. Section 554.93SectionInterests in personal property held in trust; application of rules. Section 554.94SectionApplicability of act to certain personal property; scope of trust.