MCL - Act 224 of 1967


Act 224 of 1967

AN ACT relating to powers, the creation and exercise of powers, release of powers, contracts to appoint, dispositions when powers are unexercised, rights of creditors of donees of powers, computations under the rule against perpetuities, reservation of powers of revocation, and recording of instruments; and to repeal certain acts and parts of acts.

History: 1967, Act 224, Eff. Nov. 2, 1967

The People of the State of Michigan enact:
Document Type Description
Section 556.111 Section Powers of appointment act; short title.
Section 556.112 Section Powers of appointment act; definitions.
Section 556.113 Section Powers of appointment; creation; donors, qualifications.
Section 556.114 Section Manifestation of intent to exercise.
Section 556.115 Section Methods by which powers may be exercised by donees.
Section 556.115a Section Second trust.
Section 556.116 Section Interests appointable by general powers; part of donee's estate.
Section 556.117 Section Naming appointees by donees of powers.
Section 556.118 Section Release of powers; method; delivery.
Section 556.119 Section Creation, exercise and release of powers; irrevocability.
Section 556.120 Section Contracts of donees of powers to make appointments; remedies.
Section 556.121 Section Instruments relating to powers to appoint interests in land; recording as conveyances.
Section 556.122 Section Special power; passing on donee's default.
Section 556.123 Section General powers; creditors' rights in appointable interests.
Section 556.124 Section Suspension or postponement of vesting of future interests; time period; definitions.
Section 556.125 Section Suspension or postponement of vesting of future interests; time period when trust creator reserves power to amend or revoke.
Section 556.126 Section Postponement of vesting of future interests; law determining period.
Section 556.127 Section Postponement of vesting of future interests; facts and circumstances to be considered.
Section 556.128 Section Reserved power of revocation; effect on creditors and purchasers.
Section 556.129 Section Law applicability; construction of act.
Section 556.130 Section Death of appointee prior to exercise of power.
Section 556.131 Section Membership of class; determination; after born members.
Section 556.132 Section Applicability of act.
Section 556.133 Section Repeal.