Section 14.280 - Trustee; release of power to select charitable donee.
CHARITABLE TRUSTEES POWERS ACT (EXCERPT)
Act 78 of 1971
14.280 Trustee; release of power to select charitable donee.
Sec. 10.
(1) Unless the creating instrument expressly provides otherwise, the trustee of a trust, all of the unexpired interests in which are devoted to 1 or more charitable purposes, may release a power to select a charitable donee.
(2) The release of a power to select a charitable donee may apply to all or any part of the property subject to the power and may reduce or limit the public charitable organizations or classes of public charitable organizations in whose favor the power is exercisable.
(3) A release is effected by a duly acknowledged written instrument signed by the trustee and delivered as provided in subsection (1) of section 11.
History: 1971, Act 78, Imd. Eff. July 31, 1971