Michigan Compiled Laws
Act 87 of 2009 - Uniform Prudent Management of Institutional Funds Act (451.921 - 451.931)
Section 451.927 - Compliance With Act; Existing Facts and Circumstances.

Sec. 7.
Compliance with this act shall be determined in light of the facts and circumstances existing at the time a decision is made or action is taken and not by hindsight.
History: 2009, Act 87, Imd. Eff. Sept. 10, 2009

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Structure Michigan Compiled Laws

Michigan Compiled Laws

Chapter 451 - Securities, Real Estate, and Debt Management

Act 87 of 2009 - Uniform Prudent Management of Institutional Funds Act (451.921 - 451.931)

Section 451.921 - Short Title.

Section 451.922 - Definitions.

Section 451.923 - Institutional Fund; Managing and Investing; Considerations; Requirements; Pooling 2 or More Funds; Rules for Managing and Investing.

Section 451.924 - Endowment Fund Assets; Appropriation or Accumulation; Determination; Limitation; Designation.

Section 451.925 - Management and Investment; Delegation to External Agent; Duty to Exercise Reasonable Care; Liability; Delegation to Committees, Officers, or Employees.

Section 451.926 - Release or Modification of Restriction.

Section 451.927 - Compliance With Act; Existing Facts and Circumstances.

Section 451.928 - Applicability of Act.

Section 451.929 - Electronic Signatures.

Section 451.930 - Uniformity of Law.

Section 451.931 - Applicability; Scope.