Sec. 1209.
For the purpose of granting consent or approval with regard to the acts or accounts of a personal representative, including relief from liability or penalty for failure to post bond or to perform other duties, the sole holder or all coholders of a presently exercisable or testamentary general or special power of appointment, including 1 in the form of a power of amendment or revocation, are deemed to act for beneficiaries to the extent their interests, as permissible appointees, takers in default, or otherwise, are subject to the power.
History: 1998, Act 386, Eff. Apr. 1, 2000 ;-- Am. 2009, Act 46, Eff. Apr. 1, 2010 ;-- Am. 2010, Act 325, Eff. Apr. 1, 2010 Compiler's Notes: Enacting section 1 of Act 325 of 2010 provides:"Enacting section 1. (1) Except as provided in subsection (2), this amendatory act takes effect April 1, 2010."(2) Section 3207 of the estates and protected individuals code, 1998 PA 386, MCL 700.3207, as amended by this amendatory act, takes effect on the date this amendatory act is enacted into law."Popular Name: EPIC
Structure Michigan Compiled Laws
Chapter 700 - Estates and Protected Individuals Code
Act 386 of 1998 - Estates and Protected Individuals Code (700.1101 - 700.8206)
Article I - Definitions, General Provisions, and Court Jurisdiction (700.1101...700.1512)
386-1998-I-2 - Part 2 Construction and General Provisions (700.1201...700.1214)
Section 700.1201 - Purposes; Rules of Construction.
Section 700.1207 - Evidence of Death or Status.
Section 700.1208 - Procedure to Establish Death of Accident or Disaster Victim.
Section 700.1209 - Acts by Holder of Power of Appointment.
Section 700.1210 - Cost-of-Living Adjustment.
Section 700.1211 - Court Personnel Prohibited From Providing Legal Advice.
Section 700.1212 - Fiduciary Relationship.
Section 700.1213 - Reference to Unified Credits, Exemption, or Deductions.