Sec. 11.
(1) Delivery of a release is accomplished as follows:
(a) If the release is accomplished by specifying public charitable organizations as beneficiaries of the trust, by delivery of a copy of the release to each designated public charitable organization.
(b) If the release is accomplished by reducing the class of permissible public charitable organizations, by delivery of a copy of the release to the attorney general.
(2) If a release is accomplished by specifying a public charitable organization as beneficiary of the trust, the trust thereafter shall be operated exclusively for the benefit of and supervised by the specified public charitable organization until such time as the specified public charitable organization ceases to exist or ceases to be an exempt public charitable organization.
History: 1971, Act 78, Imd. Eff. July 31, 1971
Structure Michigan Compiled Laws
Act 78 of 1971 - Charitable Trustees Powers Act (14.271 - 14.287)
Section 14.273 - Applicability of Act.
Section 14.275 - Tax Exemption, Deduction, or Credit; Distributions; Prohibited Conduct.
Section 14.276 - Split Interest Trust; Applicability of Section 14.275(3)(b) and (C).
Section 14.278 - Amendment of Trust Instrument.
Section 14.279 - Trustee; Relief From Restrictions of Trust Instrument.
Section 14.280 - Trustee; Release of Power to Select Charitable Donee.
Section 14.282 - Public Charitable Trust; Supervision by Specified Public Charitable Organization.