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11 chapters · 89 sections in this title.
Mich. Comp. Laws § 555.101 Short title; definitions.
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Sec. 1. (1) This act shall be known and may be cited as the "collective investment funds act". (2) As used in this act: (a) "Collective investment fund" means a fund maintained by a financial institution or by 1 or more affiliated financial institutions that consists solely of as…
Mich. Comp. Laws § 555.102 Funds; financial institution may establish, maintain, and administer.
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Sec. 2. A financial institution may establish, maintain, and administer 1 or more funds.
Mich. Comp. Laws § 555.103 Funds; financial institution may invest as fiduciary.
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Sec. 3. A financial institution in its capacity as a fiduciary or cofiduciary may invest funds that it lawfully holds for investment in that capacity in interests or participations in 1 or more common trust funds, if the investment is not prohibited by the instrument, judgment, d…
Mich. Comp. Laws § 555.104 Funds; establishment and maintenance of plan; provisions; availability for inspection.
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Sec. 4. (1) A financial institution shall establish and maintain a fund in accordance with a written plan approved by resolution of the board of directors of the financial institution or by a committee authorized by the board. The plan shall contain full and detailed provisions a…