Sec. 7107.
The meaning and effect of the terms of a trust are determined by the following:
(a) The law of the jurisdiction designated in the terms of the trust unless the designation of that jurisdiction's law is contrary to a strong public policy of the jurisdiction having the most significant relationship to the matter at issue.
(b) In the absence of a controlling designation in the terms of the trust, the law of the jurisdiction having the most significant relationship to the matter at issue.
History: Add. 2009, Act 46, Eff. Apr. 1, 2010 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 VII - Michigan Trust Code (700.7101...700.7913)
386-1998-VII-1 - Part 1 General Provisions and Definitions (700.7101...700.7114)
Section 700.7101 - Short Title of Article.
Section 700.7103 - Definitions.
Section 700.7104 - Notice or Knowledge of Fact.
Section 700.7105 - Duties and Powers of Trustee; Provisions of Law Prevailing Over Terms of Trust.
Section 700.7107 - Governing Law.
Section 700.7108 - Principal Place of Administration.
Section 700.7109 - Notice; Methods; Waiver.
Section 700.7110 - Others Treated as Qualified Beneficiaries.
Section 700.7111 - Nonjudicial Settlement Agreement.
Section 700.7112 - Rules of Construction.
Section 700.7113 - Penalty Clause for Contest of Trust.
Section 700.7114 - Trustee Having Insurable Interest Under Life Insurance Policy; Conditions.