Sec. 6.
(1) With respect to actions taken in compliance with this act, including all good faith determinations regarding companies as required by this act, the fiduciary shall be exempt from any conflicting statutory or common law obligations, including any obligations in respect to choice of asset managers, investment funds, or investments for the fiduciary's securities portfolios.
(2) The fiduciary, members of an investment advisory committee, and any person with decision-making authority with regard to investments of the fiduciary shall not be held liable for any action undertaken for the purpose of complying with or executing the mandates required under this act.
History: 2008, Act 234, Imd. Eff. July 17, 2008
Structure Michigan Compiled Laws
Act 234 of 2008 - Divestment From Terror Act (129.291 - 129.301)
Section 129.291 - Short Title.
Section 129.292 - Definitions.
Section 129.293 - Scrutinized Companies; Identification by Fiduciary.
Section 129.295 - Internet Website; Collection and Publication of Information.
Section 129.296 - Exemption From Conflicting Statutory or Common Law Obligations.
Section 129.297 - Severability.
Section 129.300 - Applicability of Act; Dates; Extension.
Section 129.301 - Divestment of Funds; Recommendations of Department of Treasury.