Fill and Sign the Personal Representative to Three Individuals as Form

Prepared by U.S. Legal Forms, Inc.Copyright 2016 - U.S. Legal Forms, Inc. STATE OF MICHIGAN FIDUCIARY DEED [Personal Representative to Three Individuals as Tenants in Common] Control Number – MI - SDEED - 6
2/15/2014 (m) / (d) — 2 8/15/2016 (d) - 2 10/1/2017 (m) / (d) - 1 (a) a corporation or limited liability company is a fiduciary if its principal office is located within this state, if its management and control is exercised entirely through an officer or director residing or having a principal place of business within this state, or if the principal office of the corporation or limited liability company is one designated by the articles of incorporation and the bylaws and the general powers and duties of such a business are specifically defined in this act. (b) as used in this section, "fiduciary" does not include a trustee, assignee, receiver, receiver-general, or guardian, regardless of whether ownership of the trust property, a personal estate, land or other property passes or is affected by the trustee's or assignee's exercise of the authority granted under the articles of incorporation, the bylaws and an express designation of the primary fiduciary. (c) nothing in this act shall be construed to prevent a fiduciary from having a fiduciary relationship with a limited liability company created under the articles of incorporation and the bylaws and to eliminate a fiduciary designation from such a company. (d) the power to exercise authority and control over real property and a corporation or a limited liability company, including, but not limited to, the power to direct the corporation's business, shall be vested in a principal office only with regard to those real property and corporations or limited liability companies and not with respect to one or more limited liability companies in which a separate management and control is effected by, or for the benefit of, the same or another person, if any, residing or having a principal place of business within this state. (e) each person who holds a fiduciary relationship by virtue of a trust, as defined in section of the revised code, that is located or having a principal place of business within this state shall serve as, or perform the duties of, a qualified director and be a qualified trustee. (f) each person who holds a fiduciary relationship as a beneficiary or a beneficiary representative under an unincorporated plan of insurance or guaranties as defined in section of the revised code that is located or having a principal place of business within this state shall serve as, or perform the