reglab/statecodes huggingface dataset:
2023 Michigan Compiled Laws › Chapter 555 - Uses and Trusts › Act 159 of 2004 - Uniform Principal and Income Act (555.501 - 555.1006) › Article 5 - (555.901...555.906) › Section 555.906 - Income Beneficiaries and Remainder Benefits; Adjustments Between Principal and Income.

555.906 Income beneficiaries and remainder benefits; adjustments between principal and income.
Sec. 506.
(1) A fiduciary may make adjustments between principal and income to offset the shifting of economic interests or tax benefits between income beneficiaries and remainder beneficiaries that arise from 1 or more of the following:
(a) Elections and decisions, other than those described in subsection (2), that the fiduciary makes from time to time regarding tax matters.
(b) An income tax or any other tax that is imposed upon the fiduciary or a beneficiary as a result of a transaction involving or a distribution from the estate or trust.
(c) The ownership by an estate or trust of an interest in an entity whose taxable income, whether or not distributed, is includable in the taxable income of the estate, trust, or a beneficiary.
(2) If the amount of an estate tax marital deduction or charitable contribution deduction is reduced because a fiduciary deducts an amount paid from principal for income tax purposes instead of deducting it for estate tax purposes, and as a result estate taxes paid from principal are increased and income taxes paid by an estate, trust, or beneficiary are decreased, each estate, trust, or beneficiary that benefits from the decrease in income tax shall reimburse the principal from which the increase in estate tax is paid. The total reimbursement shall equal the increase in the estate tax to the extent that the principal used to pay the increase would have qualified for a marital deduction or charitable contribution deduction but for the payment. The proportionate share of the reimbursement for each estate, trust, or beneficiary whose income taxes are reduced must be the same as its proportionate share of the total decrease in income tax. An estate or trust shall reimburse principal from income.
History:
2004, Act 159, Eff. Sept. 1, 2004
2023 Michigan Compiled Laws › Chapter 555 - Uses and Trusts › Act 159 of 2004 - Uniform Principal and Income Act (555.501 - 555.1006) › Article 6 - (555.1001...555.1006) › Section 555.1001 - Application and Construction of Act.

555.1001 Application and construction of act.
Sec. 601.
In applying and construing this act, consideration shall be given to the need to promote uniformity of the law with respect to the subject matter of this act among states that enact it.
History:
2004, Act 159, Eff. Sept. 1, 2004
2023 Michigan Compiled Laws › Chapter 555 - Uses and Trusts › Act 159 of 2004 - Uniform Principal and Income Act (555.501 - 555.1006) › Article 6 - (555.1001...555.1006) › Section 555.1002 - Severability.

555.1002 Severability.
Sec. 602.
If any provision of this act or its application to any person or circumstance is held invalid, the invalidity does not affect other provisions or applications of this act that can be given effect without the invalid provision or application, and to this end the provisions of this act are severable.
History:
2004, Act 159, Eff. Sept. 1, 2004
2023 Michigan Compiled Laws › Chapter 555 - Uses and Trusts › Act 159 of 2004 - Uniform Principal and Income Act (555.501 - 555.1006) › Article 6 - (555.1001...555.1006) › Section 555.1003 - Repeal of MCL 555.51 to 555.68.

555.1003 Repeal of MCL 555.51 to 555.68.
Sec. 603.
The revised uniform principal and income act, 1965 PA 340, MCL 555.51 to 555.68, is repealed.
History:
2004, Act 159, Eff. Sept. 1, 2004
2023 Michigan Compiled Laws › Chapter 555 - Uses and Trusts › Act 159 of 2004 - Uniform Principal and Income Act (555.501 - 555.1006) › Article 6 - (555.1001...555.1006) › Section 555.1004 - Effective Date.

555.1004 Effective date.
Sec. 604.
This act takes effect September 1, 2004.
History:
2004, Act 159, Eff. Sept. 1, 2004
2023 Michigan Compiled Laws › Chapter 555 - Uses and Trusts › Act 159 of 2004 - Uniform Principal and Income Act (555.501 - 555.1006) › Article 6 - (555.1001...555.1006) › Section 555.1005 - Applicability to Trust or Estate on Effective Date of Act.

555.1005 Applicability to trust or estate on effective date of act.
Sec. 605.
This act applies to each trust or decedent's estate existing on the effective date of this act except as otherwise expressly provided in the will or terms of the trust or in this act.
History:
2004, Act 159, Eff. Sept. 1, 2004
2023 Michigan Compiled Laws › Chapter 555 - Uses and Trusts › Act 159 of 2004 - Uniform Principal and Income Act (555.501 - 555.1006) › Article 6 - (555.1001...555.1006) › Section 555.1006 - Applicability of MCL 555.409 to Certain Trusts; Dates.

555.1006 Applicability of MCL 555.409 to certain trusts; dates.
Sec. 606.
Section 409 applies to a trust described in section 409(4) on and after the following dates:
(a) If the trust is not funded as of the effective date of the amendatory act that added this section, the date of the decedent's death.
(b) If the trust is initially funded beginning January 1 of the calendar year in which the amendatory act that added this section takes effect, the date of the decedent's death.
(c) If the trust is not described in subdivision (a) or (b), January 1 of the calendar year in which the amendatory act that added this section takes effect.
History:
Add. 2012, Act 302, Eff. Mar. 28, 2013
2023 Michigan Compiled Laws › Chapter 556 - Powers of Appointment › Repealed - R.S. of 1846 - Revised Statutes of 1846 (556.1 - 556.62)

Revised Statutes of 1846
R.S. of 1846
556.1-556.62 Repealed. 1967, Act 224, Eff. Nov. 2, 1967.
2023 Michigan Compiled Laws › Chapter 556 - Powers of Appointment › Repealed - Act 296 of 1945 - Release by Donee of Power of Appointment (556.101 - 556.106)

RELEASE BY DONEE OF POWER OF APPOINTMENT
Act 296 of 1945
556.101-556.106 Repealed. 1967, Act 224, Eff. Nov. 2, 1967.
2023 Michigan Compiled Laws › Chapter 556 - Powers of Appointment › Act 224 of 1967 - Powers of Appointment Act of 1967 (556.111 - 556.133) › Section 556.111 - Powers of Appointment Act; Short Title.

556.111 Powers of appointment act; short title.
Sec. 1.
This act shall be known and may be cited as the "powers of appointment act of 1967".
History:
1967, Act 224, Eff. Nov. 2, 1967
2023 Michigan Compiled Laws › Chapter 556 - Powers of Appointment › Act 224 of 1967 - Powers of Appointment Act of 1967 (556.111 - 556.133) › Section 556.113 - Powers of Appointment; Creation; Donors, Qualifications.

556.113 Powers of appointment; creation; donors, qualifications.
Sec. 3.
(1) A power may be created by any creating instrument which is executed in the manner required by law for that instrument.
(2) The donor of a power must be a person capable of transferring the interest in property to which the power relates and having a transferable interest in such property.
History:
1967, Act 224, Eff. Nov. 2, 1967
2023 Michigan Compiled Laws › Chapter 556 - Powers of Appointment › Act 224 of 1967 - Powers of Appointment Act of 1967 (556.111 - 556.133) › Section 556.114 - Manifestation of Intent to Exercise.

556.114 Manifestation of intent to exercise.
Sec. 4.
Unless otherwise provided in the creating instrument, an instrument manifests an intent to exercise the power if the instrument purports to transfer an interest in the appointive property that the donee would have no power to transfer except by virtue of the power, even though the power is not recited or referred to in the instrument, or if the instrument either expressly or by necessary implication from its wording, interpreted in the light of the circumstances surrounding its drafting and execution, manifests an intent to exercise the power. Subject to the other provisions of this section, if there is a general power exercisable by will with no express gift in default in the creating instrument, a residuary clause or other general language in the donee's will purporting to dispose of all of the donee's estate or property operates to exercise the power, but in all other cases such a clause or language does not in itself manifest an intent to exercise a power exercisable by will.
History:
1967, Act 224, Eff. Nov. 2, 1967 ;-- Am. 1970, Act 195, Imd. Eff. Aug. 6, 1970 ;-- Am. 2000, Act 68, Eff. Apr. 1, 2000
2023 Michigan Compiled Laws › Chapter 556 - Powers of Appointment › Act 224 of 1967 - Powers of Appointment Act of 1967 (556.111 - 556.133) › Section 556.115 - Methods by Which Powers May Be Exercised by Donees.

556.115 Methods by which powers may be exercised by donees.
Sec. 5.
(1) A power may be exercised by any donee capable of transferring the interest in property to which the power relates.
(2) A power may be exercised only by a written instrument that would be sufficient to pass the interest intended to be appointed if the donee were the owner of the interest. Unless otherwise contemplated in the creating instrument, a power may be exercised only by a written instrument that complies with the requirements, if any, of the creating instrument as to the manner, time, and conditions of the exercise of the power, except that a power exercisable only by deed is also exercisable by a written will executed as required by law.
(3) If the donor has authorized the power to be exercised by an instrument not sufficient in law to pass the appointive interest, the power is not void, but may be exercised by an instrument conforming to subsection (2).
(4) If consent of the donor or of any other person is required for the exercise of a power, the consent must be expressed in the instrument exercising the power or in a separate written instrument, signed in either case by the person whose consent is required. If any person whose consent is required dies or becomes legally incapable of consenting, the power may be exercised by the donee without the consent of that person unless the creating instrument, construed with regard to surrounding circumstances, manifests a contrary intent.
(5) When a power is vested in 2 or more persons, all must unite in its exercise; but if 1 or more of the donees dies, becomes incapable of exercising the power, or releases the power, the power may be exercised by the others, unless the creating instrument, construed with regard to surrounding circumstances, manifests a contrary intent.
(6) When a power is vested in 2 or more trustees, the trustees' coordination in the exercise of the power is governed by sections 7703 and 7815(3) of the MTC, MCL 700.7703 and 700.7815, unless the trust instrument manifests a contrary intent.
History:
1967, Act 224, Eff. Nov. 2, 1967 ;-- Am. 1970, Act 195, Imd. Eff. Aug. 6, 1970 ;-- Am. 2012, Act 485, Imd. Eff. Dec. 28, 2012
2023 Michigan Compiled Laws › Chapter 556 - Powers of Appointment › Act 224 of 1967 - Powers of Appointment Act of 1967 (556.111 - 556.133) › Section 556.116 - Interests Appointable by General Powers; Part of Donee's Estate.

556.116 Interests appointable by general powers; part of donee's estate.
Sec. 6.
(1) If the will of a donee of a general power exercisable by will either effectively exercises the power or manifests an intent to exercise the power and satisfies the requirements of sections 4 and 5, all interests which the donee could by will appoint and which the donee's will appoints or purports to appoint shall be regarded as part of the donee's estate for the following purposes only:
(a) The payment of the expenses of administration of the donee's estate, to the extent that the donee's individual assets are insufficient for that purpose.
(b) The satisfaction of the claims of the donee's creditors, to the extent provided in section 13.
(c) Inclusion of such interests in determining the right of election of the donee's widow and the satisfaction of such right.
(d) The distribution of any of such interests as the intestate property of the donee, to the extent that the donee's will does not effectively dispose of such interests and the creating instrument does not otherwise provide.
(2) This section does not affect the period during which the vesting of a future interest may be suspended or postponed by an instrument exercising a power as provided in section 14.
History:
1967, Act 224, Eff. Nov. 2, 1967 ;-- Am. 1970, Act 195, Imd. Eff. Aug. 6, 1970
2023 Michigan Compiled Laws › Chapter 556 - Powers of Appointment › Act 224 of 1967 - Powers of Appointment Act of 1967 (556.111 - 556.133) › Section 556.117 - Naming Appointees by Donees of Powers.

556.117 Naming appointees by donees of powers.
Sec. 7.
The donee of any power may appoint the whole or any part of the appointive assets to any 1 or more of the permissible appointees and exclude others, except as otherwise provided in the creating instrument.
History:
1967, Act 224, Eff. Nov. 2, 1967
2023 Michigan Compiled Laws › Chapter 556 - Powers of Appointment › Act 224 of 1967 - Powers of Appointment Act of 1967 (556.111 - 556.133) › Section 556.118 - Release of Powers; Method; Delivery.

556.118 Release of powers; method; delivery.
Sec. 8.
(1) Unless the creating instrument expressly provides that a power cannot be released or expressly restricts the time, manner or scope of release, all powers may be released except as provided in subsection (2).
(2) Unless the creating instrument expressly provides otherwise, a special power may not be released if either the power is not presently exercisable, or the power is exercisable by a trustee or other fiduciary in a fiduciary capacity which requires the exercise of the power.
(3) The release of a power may include all or any part of the property subject to the power; reduce or limit the persons or objects, or classes of persons or objects in whose favor the power is exercisable; or limit in any other respect the extent to or the manner in which the power may be exercised.
(4) A release may be effected, either with or without consideration, by written instrument signed by the donee and delivered.
(5) Delivery of a release may be accomplished in any of the following ways, but this subsection does not preclude a determination that a release has been delivered in some other manner:
(a) Delivery to any person specified in the creating instrument.
(b) Delivery to a trustee or other fiduciary or to 1 of several trustees or other fiduciaries, other than the donee, of the property to which the power relates, or by filing with the court having jurisdiction over the trust.
(c) Delivery to any person, other than the donee, who could be adversely affected by an exercise of the power.
(d) By recording or filing in the office of the register of deeds in the county where the property is located or where the donee resides, which release shall be recorded by the register.
History:
1967, Act 224, Eff. Nov. 2, 1967 ;-- Am. 1970, Act 195, Imd. Eff. Aug. 6, 1970
2023 Michigan Compiled Laws › Chapter 556 - Powers of Appointment › Act 224 of 1967 - Powers of Appointment Act of 1967 (556.111 - 556.133) › Section 556.119 - Creation, Exercise and Release of Powers; Irrevocability.

556.119 Creation, exercise and release of powers; irrevocability.
Sec. 9.
The creation, exercise or release of a power is irrevocable unless the power to revoke is reserved in the instrument creating, exercising or releasing the power.
History:
1967, Act 224, Eff. Nov. 2, 1967
2023 Michigan Compiled Laws › Chapter 556 - Powers of Appointment › Act 224 of 1967 - Powers of Appointment Act of 1967 (556.111 - 556.133) › Section 556.120 - Contracts of Donees of Powers to Make Appointments; Remedies.

556.120 Contracts of donees of powers to make appointments; remedies.
Sec. 10.
(1) Unless the creating instrument provides otherwise, the donee of a power, presently exercisable, can contract to make an appointment, if neither the contract nor the promised appointment confers a benefit upon a person who is not a permissible appointee under the power.
(2) Unless the creating instrument provides otherwise, the donee of a power not presently exercisable cannot contract to make an appointment. If the donee cannot contract to make an appointment, but nevertheless does so contract, the promisee cannot obtain either specific performance or damages, except that he can obtain damages equal to the value given by him for the promise.
History:
1967, Act 224, Eff. Nov. 2, 1967
2023 Michigan Compiled Laws › Chapter 556 - Powers of Appointment › Act 224 of 1967 - Powers of Appointment Act of 1967 (556.111 - 556.133) › Section 556.121 - Instruments Relating to Powers to Appoint Interests in Land; Recording as Conveyances.

556.121 Instruments relating to powers to appoint interests in land; recording as conveyances.
Sec. 11.
(1) Any of the following instruments relating to powers to appoint interests in land is entitled to be recorded as a conveyance upon compliance with section 23 of chapter 65 of the Revised Statutes of 1846, being section 565.23 of the Compiled Laws of 1948:
(a) An instrument, other than a will, exercising a power.
(b) An instrument expressing consent to exercise.
(c) A release.
(2) If a power is exercised by a will, a certified copy of the will and of the certificate of probate thereof may be recorded.
History:
1967, Act 224, Eff. Nov. 2, 1967
2023 Michigan Compiled Laws › Chapter 556 - Powers of Appointment › Act 224 of 1967 - Powers of Appointment Act of 1967 (556.111 - 556.133) › Section 556.122 - Special Power; Passing on Donee's Default.

556.122 Special power; passing on donee's default.
Sec. 12.
If the donee of a special power fails to exercise the power effectively or totally releases a releasable special power, the interests that might have been appointed under the power pass as follows:
(a) If the creating instrument contains an express gift in default, then in accordance with the terms of the gift.
(b) Except as provided in subdivision (d), if the creating instrument contains no express gift in default and does not clearly indicate that the permissible appointees are to take only if the donee exercises the power, then equally to the permissible appointees living at the time of the termination or release of the power, but if the power is to appoint among a class, such as "relatives", "issue" or "heirs", then to those persons in the closest degree of kinship or representing others in the same degree of kinship who would have taken had there been an express appointment per stirpes to the described class effective as of the termination or release of the power.
(c) Except as provided in subdivision (d), if the creating instrument contains no express gift in default and clearly indicates that the permissible appointees are to take only if the donee exercises the power, then by reversion to the donor or his or her estate. If the creating instrument expressly states that there is no reversion in the donor, then any language in the creating instrument indicating or stating that the permissible appointees are to take only if the donee exercises the power is to be disregarded and the interests shall pass under subdivision (b).
(d) If the power was created by the exercise of a discretionary power described in section 5a, then according to the provisions that governed the assets subject to the power under the first trust described in section 5a(1).
History:
1967, Act 224, Eff. Nov. 2, 1967 ;-- Am. 1970, Act 195, Imd. Eff. Aug. 6, 1970 ;-- Am. 2012, Act 485, Imd. Eff. Dec. 28, 2012
2023 Michigan Compiled Laws › Chapter 556 - Powers of Appointment › Act 224 of 1967 - Powers of Appointment Act of 1967 (556.111 - 556.133) › Section 556.123 - General Powers; Creditors' Rights in Appointable Interests.

556.123 General powers; creditors' rights in appointable interests.
Sec. 13.
(1) If a donee has a general power of appointment, any interest that the donee has power to appoint or has appointed is to be treated as property of the donee for the purposes of satisfying claims of the donee's creditors, as provided in this section.
(2) If a donee has an unexercised general power of appointment and the donee can presently exercise such a power, any creditor of the donee may by appropriate proceedings reach any interest that the donee could appoint, to the extent that the donee's individual assets are insufficient to satisfy the creditor's claim. If the donee has exercised the power, the creditor can reach the appointed interests to the same extent that under the law relating to fraudulent conveyances the creditor could reach property that the donee has owned and transferred.
(3) If a donee has at the time of his or her death a general power of appointment, whether or not he or she exercises the power, the personal representative or other legal representative of the donee may reach on behalf of creditors any interest that the donee could have appointed to the extent that the claim of a creditor has been filed and allowed in the donee's estate but not paid because the assets of the estate are insufficient.
(4) Under a general assignment by a donee for the benefit of the donee's creditors, the assignee may exercise any right that a creditor of the donee would have under subsection (2).
(5) A purchaser without actual notice and for a valuable consideration of any interest in property, legal or equitable, takes the interest free of any rights that the donee's estate or a creditor of the donee has under this section.
(6) If more than 1 person is the donee of a general power of appointment, it shall be presumed that the interests of the donees in the property subject to the power are equally owned among them unless the creating instrument indicates otherwise.
(7) The lapse, release, waiver, or disclaimer of a power of appointment given to a donee by a donor is not a gift, conveyance, transfer, or assignment of property by the donee.
History:
1967, Act 224, Eff. Nov. 2, 1967 ;-- Am. 2009, Act 45, Eff. Apr. 1, 2010
2023 Michigan Compiled Laws › Chapter 556 - Powers of Appointment › Act 224 of 1967 - Powers of Appointment Act of 1967 (556.111 - 556.133) › Section 556.124 - Suspension or Postponement of Vesting of Future Interests; Time Period; Definitions.

556.124 Suspension or postponement of vesting of future interests; time period; definitions.
Sec. 14.
(1) The period during which the vesting of a future interest may be suspended or postponed by an instrument exercising a power of appointment begins on the effective date of the instrument of exercise in the case of a general power presently exercisable, and in all other situations, at the time of the creation of the power.
(2) In determining the period during which the vesting of a future interest may be suspended or postponed by the exercise of a power of appointment, if a second power is created by the exercise of a first power, and the first power is a presently exercisable general power, the second power is considered to have been created on the effective date of the instrument of exercise. In all other situations, the second power is considered to have been created at the time of the creation of the first power.
(3) The length of the period, whether finite or infinite, during which the vesting of a future interest may be suspended or postponed by exercise of a power is determined, from the beginning date specified in subsection (1), under the personal property trust perpetuities act, 2008 PA 148, MCL 554.91 to 554.94, or section 5(2) of the uniform statutory rule against perpetuities, 1988 PA 418, MCL 554.75, to the extent that all of the following conditions are satisfied:
(a) An instrument exercises a power of appointment so as to subject property to or to create a trust that is either revocable on or created after May 28, 2008.
(b) The appointive property is personal property.
(c) The trust is not a special appointee trust.
(4) As used in this section:
(a) "First power" means a power of appointment, an exercise of which has created another power of appointment.
(b) "Second power" means a power of appointment created by the exercise of a first power.
(c) "Special appointee trust" means that term as defined in section 4 of the personal property trust perpetuities act, 2008 PA 148, MCL 554.94.
History:
1967, Act 224, Eff. Nov. 2, 1967 ;-- Am. 2012, Act 485, Imd. Eff. Dec. 28, 2012
2023 Michigan Compiled Laws › Chapter 556 - Powers of Appointment › Act 224 of 1967 - Powers of Appointment Act of 1967 (556.111 - 556.133) › Section 556.125 - Suspension or Postponement of Vesting of Future Interests; Time Period When Trust Creator Reserves Power to Amend or Revoke.

556.125 Suspension or postponement of vesting of future interests; time period when trust creator reserves power to amend or revoke.
Sec. 15.
When the creator of a trust reserves to himself an unqualified power to amend or revoke, the period during which the vesting of a future interest may be suspended or postponed begins when the unqualified power to amend or revoke terminates, whether by reason of the death of the trust creator, by release or otherwise; or on the effective date of the instrument exercising the power to revoke.
History:
1967, Act 224, Eff. Nov. 2, 1967
2023 Michigan Compiled Laws › Chapter 556 - Powers of Appointment › Act 224 of 1967 - Powers of Appointment Act of 1967 (556.111 - 556.133) › Section 556.126 - Postponement of Vesting of Future Interests; Law Determining Period.

556.126 Postponement of vesting of future interests; law determining period.
Sec. 16.
When the provisions of sections 14 or 15 apply, the permissible period for the postponement of a vesting of a future interest shall be fixed in accordance with either the law in effect at the time of the exercise of the power or of the termination of the unqualified power of amendment or revocation, or in accordance with the law in effect at the time of the creation of the power, whichever will support the validity of the exercise of the power.
History:
1967, Act 224, Eff. Nov. 2, 1967
2023 Michigan Compiled Laws › Chapter 556 - Powers of Appointment › Act 224 of 1967 - Powers of Appointment Act of 1967 (556.111 - 556.133) › Section 556.127 - Postponement of Vesting of Future Interests; Facts and Circumstances to Be Considered.

556.127 Postponement of vesting of future interests; facts and circumstances to be considered.
Sec. 17.
When the period during which the vesting of a future interest may be postponed must be computed from the time of the creation of a power, with respect to interests sought to be created by an instrument exercising the power, facts and circumstances existing at the effective date of the instrument exercising the power shall be taken into account.
History:
1967, Act 224, Eff. Nov. 2, 1967
2023 Michigan Compiled Laws › Chapter 556 - Powers of Appointment › Act 224 of 1967 - Powers of Appointment Act of 1967 (556.111 - 556.133) › Section 556.128 - Reserved Power of Revocation; Effect on Creditors and Purchasers.

556.128 Reserved power of revocation; effect on creditors and purchasers.
Sec. 18.
When the grantor in a conveyance reserves to himself an unqualified power of revocation, he is thereafter deemed still to be the absolute owner of the estate conveyed, so far as the rights of his creditors and purchasers are concerned. If the grantor dies without exercising such power, the executor or other legal representative of the grantor may reach the estate conveyed on behalf of any creditor whose claim has been filed and allowed in the grantor's probate estate but not paid because the assets of the probate estate are insufficient to satisfy his claim. This section shall not confer upon the executor or other legal representative of the grantor the right to obtain on behalf of creditors any of the proceeds of life insurance policies or other distributions from qualified pension, profit sharing and stock bonus plans that might be payable as a result of the death of the grantor.
History:
1967, Act 224, Eff. Nov. 2, 1967 ;-- Am. 1970, Act 195, Imd. Eff. Aug. 6, 1970
2023 Michigan Compiled Laws › Chapter 556 - Powers of Appointment › Act 224 of 1967 - Powers of Appointment Act of 1967 (556.111 - 556.133) › Section 556.129 - Law Applicability; Construction of Act.

556.129 Law applicability; construction of act.
Sec. 19.
As to all matters not within this act or any other applicable statute, the common law is to govern. This section is not intended to restrict in any manner the meaning of any provision of this act or any other applicable statute.
History:
1967, Act 224, Eff. Nov. 2, 1967
2023 Michigan Compiled Laws › Chapter 556 - Powers of Appointment › Act 224 of 1967 - Powers of Appointment Act of 1967 (556.111 - 556.133) › Section 556.130 - Death of Appointee Prior to Exercise of Power.

556.130 Death of appointee prior to exercise of power.
Sec. 20.
If an attempted testamentary exercise of a power is ineffective because of an appointee's death before the effective date of the exercise, section 2603 of EPIC, MCL 700.2603, applies.
History:
1967, Act 224, Eff. Nov. 2, 1967 ;-- Am. 2000, Act 68, Eff. Apr. 1, 2000 ;-- Am. 2012, Act 485, Imd. Eff. Dec. 28, 2012
2023 Michigan Compiled Laws › Chapter 556 - Powers of Appointment › Act 224 of 1967 - Powers of Appointment Act of 1967 (556.111 - 556.133) › Section 556.131 - Membership of Class; Determination; After Born Members.

556.131 Membership of class; determination; after born members.
Sec. 21.
Except as provided in section 20, when the donee of a power executes an instrument exercising the power in favor of a class, the membership of the class shall be determined as of the effective date of the exercise and include any person otherwise qualified as a member of the class who was born after the execution of the instrument exercising the power and before the effective date of the exercise unless a different intention is apparent from the instrument exercising the power.
History:
1967, Act 224, Eff. Nov. 2, 1967 ;-- Am. 1970, Act 195, Imd. Eff. Aug. 6, 1970
2023 Michigan Compiled Laws › Chapter 556 - Powers of Appointment › Act 224 of 1967 - Powers of Appointment Act of 1967 (556.111 - 556.133) › Section 556.132 - Applicability of Act.

556.132 Applicability of act.
Sec. 22.
The provisions of this act are applicable to any power existing on the effective date of this act, as well as a power created after that date.
History:
1967, Act 224, Eff. Nov. 2, 1967
2023 Michigan Compiled Laws › Chapter 556 - Powers of Appointment › Act 224 of 1967 - Powers of Appointment Act of 1967 (556.111 - 556.133) › Section 556.133 - Repeal.

556.133 Repeal.
Sec. 23.
Chapter 64 of the Revised Statutes of 1846, being sections 556.1 to 556.62 of the Compiled Laws of 1948, and Act No. 296 of the Public Acts of 1945, being sections 556.101 to 556.106 of the Compiled Laws of 1948, are repealed.
History:
1967, Act 224, Eff. Nov. 2, 1967
2023 Michigan Compiled Laws › Chapter 556 - Powers of Appointment › Act 187 of 2023 - Uniform Power of Attorney Act (556.201.new - 556.505.new) › Article 1 - General Provisions (556.201.new...556.223.new) › Section 556.201.new - Short Title.

***** 556.201.new THIS NEW SECTION IS EFFECTIVE JULY 1, 2024 *****
556.201.new Short title.
Sec. 101.
This act may be cited as the "uniform power of attorney act".
History:
2023, Act 187, Eff. July 1, 2024
2023 Michigan Compiled Laws › Chapter 556 - Powers of Appointment › Act 187 of 2023 - Uniform Power of Attorney Act (556.201.new - 556.505.new) › Article 1 - General Provisions (556.201.new...556.223.new) › Section 556.202a.new - Notice or Knowledge of a Fact Involving a Power of Attorney.

***** 556.202a.new THIS NEW SECTION IS EFFECTIVE JULY 1, 2024 *****
556.202a.new Notice or knowledge of a fact involving a power of attorney.
Sec. 102a.
(1) Except as otherwise provided in this section, a person has knowledge of a fact involving a power of attorney if 1 or more of the following are true:
(a) The person has actual knowledge of the fact.
(b) The person has received a notice or notification of the fact.
(c) From all the facts and circumstances known to the person at the time in question, the person has reason to know the fact.
(2) An entity that conducts activities through 1 or more employees has notice or knowledge of a fact involving a power of attorney, a principal, or an agent only from the time the information is received by an employee conducting a transaction or from the time the information would have been brought to the employee's attention if the entity had exercised reasonable diligence.
(3) An entity that conducts activities through 1 or more employees has actual knowledge of a fact relating to a power of attorney, a principal, or an agent only if the employee conducting the transaction has actual knowledge of the fact.
(4) As used in this section:
(a) "Reasonable diligence" means the maintenance of and reasonable compliance with reasonable routines for communicating significant information to the employee conducting the transaction. Reasonable diligence does not require an employee of the entity to communicate information unless the communication is part of the individual's regular duties or the individual knows a matter concerning the transaction would be materially affected by the information.
(b) "Transaction" means a transaction that is conducted for the entity and that involves the power of attorney.
History:
2023, Act 187, Eff. July 1, 2024
2023 Michigan Compiled Laws › Chapter 556 - Powers of Appointment › Act 187 of 2023 - Uniform Power of Attorney Act (556.201.new - 556.505.new) › Article 1 - General Provisions (556.201.new...556.223.new) › Section 556.203.new - Applicability of Act.

***** 556.203.new THIS NEW SECTION IS EFFECTIVE JULY 1, 2024 *****
556.203.new Applicability of act.
Sec. 103.
This act applies to all powers of attorney except the following:
(a) A power to the extent it is coupled with an interest in the subject of the power, including a power given to or for the benefit of a creditor in connection with a credit transaction.
(b) A patient advocate designation under section 5506 of the estates and protected individuals code, 1998 PA 386, MCL 700.5506.
(c) A delegation of a parent's or guardian's power regarding care, custody, or property of a minor child or ward under section 5103 of the estates and protected individuals code, 1998 PA 386, MCL 700.5103.
(d) A proxy or other delegation to exercise voting rights or management rights with respect to an entity.
(e) A power created on a form prescribed by a government or governmental subdivision, agency, or instrumentality for a governmental purpose.
History:
2023, Act 187, Eff. July 1, 2024
2023 Michigan Compiled Laws › Chapter 556 - Powers of Appointment › Act 187 of 2023 - Uniform Power of Attorney Act (556.201.new - 556.505.new) › Article 1 - General Provisions (556.201.new...556.223.new) › Section 556.204.new - Limited Presumption of Durability.

***** 556.204.new THIS NEW SECTION IS EFFECTIVE JULY 1, 2024 *****
556.204.new Limited presumption of durability.
Sec. 104.
A power of attorney created on or after the effective date of this act that is executed in accordance with section 105(2) or (3) is durable unless it expressly provides that it is terminated by the incapacity of the principal. A power of attorney created on or after the effective date of this act that is not executed in accordance with section 105(2) or (3) is not durable.
History:
2023, Act 187, Eff. July 1, 2024
2023 Michigan Compiled Laws › Chapter 556 - Powers of Appointment › Act 187 of 2023 - Uniform Power of Attorney Act (556.201.new - 556.505.new) › Article 1 - General Provisions (556.201.new...556.223.new) › Section 556.205.new - Execution of Power of Attorney; Requirements.

***** 556.205.new THIS NEW SECTION IS EFFECTIVE JULY 1, 2024 *****
556.205.new Execution of power of attorney; requirements.
Sec. 105.
(1) To be effective, a power of attorney created on or after the effective date of this act must be signed by 1 of the following individuals:
(a) The principal.
(b) If signed in the principal's conscious presence, another individual directed by the principal to sign the principal's name.
(2) To be durable, a power of attorney signed under subsection (1)(a) must meet 1 of the following requirements:
(a) Be acknowledged by the principal before a notary public or other individual authorized to take acknowledgments.
(b) Be signed in the presence of 2 witnesses, both of whom also sign the power, subject to both of the following:
(i) A witness may not be an agent nominated in the power.
(ii) One of the witnesses may be an individual who also acts, in the principal's execution of the power, as a notary public or other individual authorized to take acknowledgments.
(3) To be durable, a power of attorney signed under subsection (1)(b) must be signed in the presence of 2 witnesses as described in subsection (2)(b), regardless of whether the power is acknowledged.
(4) A signature on a power of attorney is presumed to be genuine if the principal acknowledges the signature before a notary public or other individual authorized by law to take acknowledgments.
(5) A signature on a power of attorney that is witnessed as described in subsection (2)(b) but is not acknowledged by the principal before a notary public or other individual authorized by law to take acknowledgments is not entitled to the presumption of genuineness under subsection (4), and the power is not acknowledged within the meaning of sections 119 and 120.
History:
2023, Act 187, Eff. July 1, 2024
2023 Michigan Compiled Laws › Chapter 556 - Powers of Appointment › Act 187 of 2023 - Uniform Power of Attorney Act (556.201.new - 556.505.new) › Article 1 - General Provisions (556.201.new...556.223.new) › Section 556.206.new - Validity of Power of Attorney.

***** 556.206.new THIS NEW SECTION IS EFFECTIVE JULY 1, 2024 *****
556.206.new Validity of power of attorney.
Sec. 106.
(1) A power of attorney executed in this state is valid in this state if, when the power was executed, the execution complied with the requirements for the execution of a power of attorney under the law of this state as it existed at that time.
(2) A power of attorney that is not executed in this state is valid in this state if, when the power was executed, the execution complied with either of the following:
(a) The requirements for the execution of a power of attorney under the law of the jurisdiction that determines the meaning and effect of the power under section 107 or under the law of the jurisdiction in which the principal was domiciled at the time of execution.
(b) The requirements for a military power of attorney under 10 USC 1044b.
(3) Except as otherwise provided in the power of attorney or by statute other than this act, a photocopy or electronically transmitted copy of an original power of attorney has the same effect as the original.
History:
2023, Act 187, Eff. July 1, 2024
2023 Michigan Compiled Laws › Chapter 556 - Powers of Appointment › Act 187 of 2023 - Uniform Power of Attorney Act (556.201.new - 556.505.new) › Article 1 - General Provisions (556.201.new...556.223.new) › Section 556.207.new - Meaning and Effect of Power of Attorney.

***** 556.207.new THIS NEW SECTION IS EFFECTIVE JULY 1, 2024 *****
556.207.new Meaning and effect of power of attorney.
Sec. 107.
The meaning and effect of a power of attorney is determined by the law of the jurisdiction indicated in the power and, in the absence of an indication of jurisdiction, by the law of the jurisdiction in which the power was executed.
History:
2023, Act 187, Eff. July 1, 2024
2023 Michigan Compiled Laws › Chapter 556 - Powers of Appointment › Act 187 of 2023 - Uniform Power of Attorney Act (556.201.new - 556.505.new) › Article 1 - General Provisions (556.201.new...556.223.new) › Section 556.208.new - Nomination of Conservator or Guardian; Relation of Agent to Court-Appointed Fiduciary.

***** 556.208.new THIS NEW SECTION IS EFFECTIVE JULY 1, 2024 *****
556.208.new Nomination of conservator or guardian; relation of agent to court-appointed fiduciary.
Sec. 108.
(1) In a power of attorney, a principal may nominate a conservator or guardian of the principal's estate or guardian of the principal's person for a protective proceeding if a protective proceeding for the principal's estate or person commences after the principal executes the power. If consistent with applicable law on priority and suitability, the court shall make its appointment in accordance with the principal's most recent nomination in a power of attorney.
(2) If, after a principal executes a power of attorney, a court appoints a conservator or guardian of the principal's estate or other fiduciary charged with the management of some or all of the principal's property, both of the following apply:
(a) The agent is accountable to the fiduciary as well as to the principal.
(b) The power of attorney is not terminated, and the agent's authority continues unless limited, suspended, or terminated by the court.
History:
2023, Act 187, Eff. July 1, 2024
2023 Michigan Compiled Laws › Chapter 556 - Powers of Appointment › Act 187 of 2023 - Uniform Power of Attorney Act (556.201.new - 556.505.new) › Article 1 - General Provisions (556.201.new...556.223.new) › Section 556.209.new - Effective Date of Power of Attorney.

***** 556.209.new THIS NEW SECTION IS EFFECTIVE JULY 1, 2024 *****
556.209.new Effective date of power of attorney.
Sec. 109.
(1) A power of attorney is effective when executed unless the principal provides in the power that it becomes effective at a specified future date or on the occurrence of a specified future event or contingency.
(2) If a power of attorney is intended to become effective on the occurrence of a specified future event or contingency, the principal may, in the power, authorize 1 or more persons to determine in a record that the event or contingency has occurred.
(3) If a power of attorney is intended to become effective on the principal's incapacity and the principal has not authorized a person to determine whether the principal is incapacitated, or the person authorized is unable or unwilling to make the determination, the power becomes effective on a determination in a record by either of the following:
(a) A physician or licensed psychologist that the principal is incapacitated within the meaning of section 102(i)(i).
(b) An attorney at law, a judge, or an appropriate governmental official that the principal is incapacitated within the meaning of section 102(i)(ii).
(4) A person authorized by the principal in the power of attorney to determine that the principal is incapacitated may, to the extent necessary or convenient in making that determination, act as the principal's personal representative under the health insurance portability and accountability act of 1996, Public Law 104-191, sections 1171 to 1179 of the social security act, 42 USC 1320d to 1320d-8, and applicable regulations, to obtain access to the principal's health care information and communicate with the principal's health care provider.
History:
2023, Act 187, Eff. July 1, 2024
2023 Michigan Compiled Laws › Chapter 556 - Powers of Appointment › Act 187 of 2023 - Uniform Power of Attorney Act (556.201.new - 556.505.new) › Article 1 - General Provisions (556.201.new...556.223.new) › Section 556.210.new - Termination of Power of Attorney or Agents Authority.

***** 556.210.new THIS NEW SECTION IS EFFECTIVE JULY 1, 2024 *****
556.210.new Termination of power of attorney or agents authority.
Sec. 110.
(1) A power of attorney terminates if any of the following occur:
(a) The principal dies.
(b) For a power of attorney that is not durable, the principal becomes incapacitated.
(c) The principal revokes the power of attorney.
(d) An event occurs that, according to the terms of the power of attorney, terminates the power.
(e) For a power of attorney that is intended only for a specified, limited purpose, the specified purpose of the power is accomplished.
(f) The principal revokes the agent's authority or the agent dies, becomes incapacitated, or resigns, and the power of attorney does not provide for another agent to act under the power.
(2) An agent's authority terminates if any of the following occur:
(a) The principal revokes the authority.
(b) The agent dies, becomes incapacitated, or resigns.
(c) An action is filed for the dissolution or annulment of the agent's marriage to the principal or for the legal separation of the agent and the principal, unless the power of attorney provides otherwise.
(d) The power of attorney terminates.
(3) Unless the power of attorney provides otherwise, an agent's authority is exercisable until the authority terminates under subsection (2), notwithstanding any lapse of time since the execution of the power.
(4) Termination of an agent's authority or of a power of attorney is not effective as to the agent or another person that, without actual knowledge of the termination, acts in good faith under or in reliance upon the power. An act so performed, unless otherwise invalid or unenforceable, binds the principal and the principal's successors in interest.
(5) Incapacity of the principal of a power of attorney that is not durable does not revoke or terminate the power as to an agent or other person that, without actual knowledge of the incapacity, acts in good faith under or in reliance on the power. An act so performed, unless otherwise invalid or unenforceable, binds the principal and the principal's successors in interest.
(6) The execution of a power of attorney does not revoke a power of attorney previously executed by the principal unless the subsequent power provides that the previous power is revoked or that all other powers of attorney are revoked.
History:
2023, Act 187, Eff. July 1, 2024
2023 Michigan Compiled Laws › Chapter 556 - Powers of Appointment › Act 187 of 2023 - Uniform Power of Attorney Act (556.201.new - 556.505.new) › Article 1 - General Provisions (556.201.new...556.223.new) › Section 556.211.new - Designation of Agents and Successor Agents.

***** 556.211.new THIS NEW SECTION IS EFFECTIVE JULY 1, 2024 *****
556.211.new Designation of agents and successor agents.
Sec. 111.
(1) A principal may designate 2 or more persons to act as coagents. Unless the power of attorney otherwise provides, each coagent may exercise the authority granted in the power independently.
(2) A principal may designate 1 or more successor agents to act if an agent resigns, dies, becomes incapacitated, is not qualified to serve, or declines to serve. A principal may grant authority to designate 1 or more successor agents to an agent or other person designated by name, office, or function. Unless the power of attorney otherwise provides, a successor agent has the same authority as that granted to the original agent and shall not act until all of the successor agent's predecessors under the terms of the power of attorney have resigned, died, become incapacitated, are no longer qualified to serve, or have declined to serve.
(3) Except to the extent the power provides that coagents and successor agents are liable for one another's misconduct, an agent under a given power of attorney who does not participate in or conceal a breach of fiduciary duty committed by another agent who is or was serving under that power, including a predecessor agent under the power, is liable for the actions of the other agent only as provided in subsection (4).
(4) An agent serving under a given power of attorney that has knowledge of a breach or imminent breach of fiduciary duty by another agent who is or was serving under that power, including a predecessor agent under the power, shall notify the principal and, if the principal is incapacitated, take any action reasonably appropriate in the circumstances to safeguard the principal's best interest. An agent that fails to notify the principal or take action as required by this subsection is liable for the reasonably foreseeable damages that could have been avoided if the agent had notified the principal or taken such action.
History:
2023, Act 187, Eff. July 1, 2024
2023 Michigan Compiled Laws › Chapter 556 - Powers of Appointment › Act 187 of 2023 - Uniform Power of Attorney Act (556.201.new - 556.505.new) › Article 1 - General Provisions (556.201.new...556.223.new) › Section 556.212.new - Reimbursement and Compensation of Agent.

***** 556.212.new THIS NEW SECTION IS EFFECTIVE JULY 1, 2024 *****
556.212.new Reimbursement and compensation of agent.
Sec. 112.
Unless the power of attorney provides otherwise, an agent is entitled to both of the following:
(a) Reimbursement of expenses reasonably incurred on behalf of the principal.
(b) Reasonable compensation for services rendered on behalf of the principal.
History:
2023, Act 187, Eff. July 1, 2024