Michigan UNIFORM APPLICATION 2009 STATE - State of Michigan - michigan-2025

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In summary, UPMIFA is a law designed to protect the assets of nonprofit organizations by ensuring that they are managed in a prudent manner, as well as to improve transparency and accountability in financial reporting practices.
When the charitable purpose of a fund or restriction becomes unlawful, impracticable, impossible to achieve or wasteful, the UPMIFA allows a court to modify the purposes of a fund or a restriction on the use of the fund in a manner consistent with the charitable purposes expressed in the gift instrument without being
Act 87 of 2009 AN ACT to establish duties and obligations of nonprofit, charitable institutions in the management and use of funds held for charitable purposes; and to repeal acts and parts of acts.
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