Michigan § 129.296 - Exemption from conflicting statutory or common law obligations.
Full text of Michigan Michigan Compiled Laws § 129.296 — Exemption from conflicting statutory or common law obligations., with citation guidance and answers to common questions.
§ 129.296. Exemption from conflicting statutory or common law obligations.
(1) With respect to actions taken in compliance with this act, including all good faith determinations regarding companies as required by this act, the fiduciary shall be exempt from any conflicting statutory or common law obligations, including any obligations in respect to choice of asset managers, investment funds, or investments for the fiduciary's securities portfolios.
(2) The fiduciary, members of an investment advisory committee, and any person with decision-making authority with regard to investments of the fiduciary shall not be held liable for any action undertaken for the purpose of complying with or executing the mandates required under this act.
Source: official Michigan text · Last verified 2026-08-27
Frequently Asked Questions About Michigan § 129.296
What does Michigan Compiled Laws § 129.296 cover?
Section 129.296 ("Exemption from conflicting statutory or common law obligations.") is part of the Michigan Compiled Laws, the codified statutory law of Michigan. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Michigan § 129.296?
A common citation format is "Michigan Compiled Laws § 129.296" (Michigan). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Michigan law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Michigan official source linked on this page or consult a licensed Michigan attorney.
How does Michigan § 129.296 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Michigan can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Michigan.