Michigan Compiled Laws

Mich. Comp. Laws § 700.1501 (2026)

Short title of part; definitions.

✓ current as of July 2026

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ESTATES AND PROTECTED INDIVIDUALS CODE

Act 386 of 1998

700.1501 Short title of part; definitions.

Sec. 1501.

(1) This part shall be known and may be cited as the "Michigan prudent investor rule". This part prescribes the Michigan prudent investor rule.

(2) As used in this part:

(a) "Governing instrument" includes, but is not limited to, a court order.

(b) "Portfolio" means all property of every kind and character held by a fiduciary on behalf of a fiduciary estate.

History: 1998, Act 386, Eff. Apr. 1, 2000

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Notes of Decisions

Cited in 3 cases (1 in the last 5 years), 2007–2021 · leading case: Horattas v. Citigroup Fin. Markets Inc., 532 F. Supp. 2d 891 (W.D. Mich. 2007).

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Horattas v. Citigroup Fin. Markets Inc., 532 F. Supp. 2d 891 (W.D. Mich. 2007). · cites it 2× “Horattas brought suit in that court in January 2007, asserting two state-law causes of action against the defendants: breach of fiduciary duty and violation of the prudent-investor rule (MCL § 700.1501 et seq.), see Comp. ¶¶ 43-47; and conversion and embezzlement of the $61…”

in Re Conservatorship of Nina Jean Murray (Mich. Ct. App. 2021). “1 MCL 700.1501 et seq. prescribes the Michigan prudent-investor rule.”

in Re St Thomas Est. (Mich. Ct. App. 2015). “1502, and prudent investment and management of such assets must be implemented “[w]ithin a reasonable time after accepting appointment as a fiduciary or receiving fiduciary assets,” MCL 700.”

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