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MCL 555.107 Common Trust Funds; Management; Control; Ownership
| Library | Michigan Statutes |
| Edition | 2023 |
| Currency | Current through Public Act 321 of the 2023 Legislative Session |
| Year | 2023 |
| Citation | MCL 555.107 |
A financial institution has exclusive management and control of a fund administered by it and the sole right at any time to sell, convert, exchange, transfer, or otherwise change or dispose of the assets comprising the fund. Exclusive management and control include, but are not limited to, the right to delegate responsibilities to others to the extent a fiduciary may delegate responsibilities under the laws of t...
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