Michigan § 555.109 - Common trust funds; management fee; expenses.
Full text of Michigan Michigan Compiled Laws § 555.109 — Common trust funds; management fee; expenses., with citation guidance and answers to common questions.
§ 555.109. Common trust funds; management fee; expenses.
(1) A financial institution administering a fund may charge a reasonable management fee that does not exceed an amount equal to the value of legitimate services of tangible benefit to the participating accounts that would not have been provided to the accounts were they not invested in the fund.
(2) A financial institution administering a fund may charge reasonable expenses incurred in operating the fund.
(3) A financial institution shall pay the cost of establishing or reorganizing a fund.
(4) A financial institution may deduct the fee and expenses allowed under subsections (1) and (2) from the fund or from the participating accounts in proportion to their interests in the fund.
Source: official Michigan text · Last verified 2026-08-27
Frequently Asked Questions About Michigan § 555.109
What does Michigan Compiled Laws § 555.109 cover?
Section 555.109 ("Common trust funds; management fee; expenses.") 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 § 555.109?
A common citation format is "Michigan Compiled Laws § 555.109" (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 § 555.109 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.