Sec. 3.
(1) A power may be created by any creating instrument which is executed in the manner required by law for that instrument.
(2) The donor of a power must be a person capable of transferring the interest in property to which the power relates and having a transferable interest in such property.
History: 1967, Act 224, Eff. Nov. 2, 1967
Structure Michigan Compiled Laws
Chapter 556 - Powers of Appointment
Act 224 of 1967 - Powers of Appointment Act of 1967 (556.111 - 556.133)
Section 556.111 - Powers of Appointment Act; Short Title.
Section 556.112 - Powers of Appointment Act; Definitions.
Section 556.113 - Powers of Appointment; Creation; Donors, Qualifications.
Section 556.114 - Manifestation of Intent to Exercise.
Section 556.115 - Methods by Which Powers May Be Exercised by Donees.
Section 556.115a - Second Trust.
Section 556.116 - Interests Appointable by General Powers; Part of Donee's Estate.
Section 556.117 - Naming Appointees by Donees of Powers.
Section 556.118 - Release of Powers; Method; Delivery.
Section 556.119 - Creation, Exercise and Release of Powers; Irrevocability.
Section 556.120 - Contracts of Donees of Powers to Make Appointments; Remedies.
Section 556.122 - Special Power; Passing on Donee's Default.
Section 556.123 - General Powers; Creditors' Rights in Appointable Interests.
Section 556.126 - Postponement of Vesting of Future Interests; Law Determining Period.
Section 556.128 - Reserved Power of Revocation; Effect on Creditors and Purchasers.
Section 556.129 - Law Applicability; Construction of Act.
Section 556.130 - Death of Appointee Prior to Exercise of Power.
Section 556.131 - Membership of Class; Determination; After Born Members.