Sec. 15.
When the creator of a trust reserves to himself an unqualified power to amend or revoke, the period during which the vesting of a future interest may be suspended or postponed begins when the unqualified power to amend or revoke terminates, whether by reason of the death of the trust creator, by release or otherwise; or on the effective date of the instrument exercising the power to revoke.
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.