Michigan Compiled Laws
386-1998-VII-4 - Part 4 Creation, Validity, Modification, and Termination of Trust (700.7401...700.7417)
Section 700.7404 - Trust Purposes.

Sec. 7404.
A trust may be created only to the extent its purposes are lawful, not contrary to public policy, and possible to achieve.
History: 1998, Act 386, Eff. Apr. 1, 2000 ;-- Am. 2009, Act 46, Eff. Apr. 1, 2010 Popular Name: EPIC

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Structure Michigan Compiled Laws

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-4 - Part 4 Creation, Validity, Modification, and Termination of Trust (700.7401...700.7417)

Section 700.7401 - Creating Trust; Methods.

Section 700.7402 - Creating Trust; Requirements.

Section 700.7403 - Trusts Created in Other Jurisdictions.

Section 700.7404 - Trust Purposes.

Section 700.7405 - Charitable Trusts; Purposes; Enforcement.

Section 700.7406 - Creation of Trust Induced by Fraud, Duress, or Undue Influence.

Section 700.7407 - Evidence of Oral Trust.

Section 700.7408, 700.7409 - Repealed. 2009, Act 46, Eff. Apr. 1, 2010.

Section 700.7410 - Modification or Termination of Trust; Procedures for Approval or Disapproval.

Section 700.7411 - Modification or Termination of Noncharitable Trust; Consent; "Settlor's Representative" Defined.

Section 700.7412 - Modification or Termination of Trust; Unanticipated Circumstances or Inability to Administer Effectively.

Section 700.7413 - Cy Pres.

Section 700.7414 - Termination or Modification of Noncharitable Trust; Section Inapplicable to Easement for Conservation or Preservation.

Section 700.7415 - Reformation to Correct Mistakes.

Section 700.7416 - Modification to Achieve Settlor's Tax Objectives; Retroactive Effect.

Section 700.7417 - Division or Consolidation of Trusts.