700.1501 Short title of part; definitions. Sec. 1501. (1) This part shall be known and may be cited as the 'Michigan prudent investor rule'. This part prescribes the Michigan prudent investor rule. (2) As used in this part: (a) 'Governing instrument' includes, but is not limited to, a court order. (b) 'Portfolio' means all property of every kind and character held by a fiduciary on behalf of a fiduciary estate. History: 1998, Act 386, Eff. Apr. 1, 2000 Popular Name: EPIC
Michigan Legal Code