State Codes and Statutes
Statutes > Michigan > Chapter-555 > Act-174-of-1941 > Section-555-113COLLECTIVE INVESTMENT FUNDS ACT (EXCERPT)
Act 174 of 1941
555.113 Common trust funds; court accountings; jurisdiction of probate court.
Sec. 13.
Unless ordered by a court of competent jurisdiction, a financial institution administering a fund is not required to provide an accounting to a court with regard to the fund. By application to the state probate court with jurisdiction for a county in this state where the financial institution has its principal office, a financial institution may secure approval of an accounting under the conditions established by the court.
History: 1941, Act 174, Eff. Jan. 10, 1942 ;-- CL 1948, 555.113 ;-- Am. 2004, Act 586, Imd. Eff. Jan. 4, 2005
Popular Name: Common Trust Fund Act
