Sec. 19.
No state public administrator or county public administrator, when appointed fiduciary of any estate by virtue of the provisions of this act, shall directly or indirectly, in any manner whatsoever, acquire any interest in, or bargain for, any property or any benefits incident to such property, which shall or may come into his possession or under his control as such fiduciary, nor shall he acquire any interest in, or bargain for, any property belonging to any other estate being administered by any county public administrator who has been appointed fiduciary thereof by virtue of the provisions of this act. Further, no such fiduciary shall commingle the funds and property of any such estate with his own or with any other property or funds: Provided, however, That such fiduciary may place on deposit in 1 or more bank accounts such funds as come into his possession as such fiduciary but any interest received on such accounts shall be prorated among each such estate contributing to such common bank account and shall not become the personal property of such fiduciary.
History: 1947, Act 194, Imd. Eff. June 12, 1947 ;-- CL 1948, 720.219
Structure Michigan Compiled Laws
Act 194 of 1947 - State Public Administrator (720.201 - 720.223)
Section 720.201 - State Public Administrator; Appointment, Term, Salary, Expenses.
Section 720.203 - Repealed. 1978, Act 642, Eff. July 1, 1979.
Section 720.205 - Repealed. 1978, Act 642, Eff. July 1, 1979.
Section 720.206 - State or County Public Administrator; Powers and Authority.
Section 720.207 - State or County Public Administrator; Bonds.
Section 720.208 - Repealed. 1978, Act 642, Eff. July 1, 1979.
Section 720.210 - County Public Administrator; Vacancy, Filling.
Section 720.215 - County Public Administrator; Vacancy Due to Death or Incapacity, Filling.
Section 720.219 - State or County Public Administrator; Interest in Estate Property Prohibited.
Section 720.221 - State or County Public Administrator; Access to Property, Papers and Records.