Michigan § 487.14404 - Application for full fiduciary powers; considerations; limited trust power.
Full text of Michigan Michigan Compiled Laws § 487.14404 — Application for full fiduciary powers; considerations; limited trust power., with citation guidance and answers to common questions.
§ 487.14404. Application for full fiduciary powers; considerations; limited trust power.
In acting upon applications for permission to exercise full fiduciary powers as provided in section 4401, the commissioner shall take into consideration the sufficiency of the capital and surplus of the applying bank and any other facts or circumstances the commissioner considers proper.
Without regard to the capital and surplus requirements specified in subsection (1), the commissioner may grant to a bank the limited trust power to act as executor, administrator, or guardian and to serve as a testamentary trustee.
Source: official Michigan text · Last verified 2026-08-27
Frequently Asked Questions About Michigan § 487.14404
What does Michigan Compiled Laws § 487.14404 cover?
Section 487.14404 ("Application for full fiduciary powers; considerations; limited trust power.") 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 § 487.14404?
A common citation format is "Michigan Compiled Laws § 487.14404" (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 § 487.14404 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.