Sec. 1504.
A fiduciary shall diversify the investments of a fiduciary estate unless the fiduciary reasonably determines that, because of special circumstances, the purposes of the fiduciary estate are better served without diversifying.
History: 1998, Act 386, Eff. Apr. 1, 2000 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-5 - Part 5 Prudent Investor Rule (700.1501...700.1512)
Section 700.1501 - Short Title of Part; Definitions.
Section 700.1502 - Prudent Investor Rule.
Section 700.1503 - Portfolio Strategy; Risk and Return Objectives.
Section 700.1504 - Diversification.
Section 700.1505 - Duties at Inception.
Section 700.1506 - Duties of Fiduciary in Interest of Beneficiaries.
Section 700.1507 - Impartiality.
Section 700.1508 - Investment Costs.
Section 700.1509 - Reviewing Compliance.
Section 700.1510 - Delegation of Investment and Management Functions.
Section 700.1511 - Language Invoking Standard of Prudent Investor Rule.
Section 700.1512 - Application to Existing Fiduciary Estates.