Public Act 87 of 2009

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• Introduced by Sen. Michael Switalski (D) on March 31, 2009, to establish financial management regulations for charitable organizations, including good faith and prudent person standard for managers, establish specific factors to consider in determining whether to appropriate or accumulate funds, establish conditions that allow delegating management, establish a mechanism for modifying or reversing a donor’s intent or restrictions, and more.
  • Referred to the Senate Judiciary Committee on March 31, 2009.
    • Reported in the Senate on April 2, 2009, with the recommendation that the substitute (S-1) be adopted and that the bill then pass.
  • Substitute offered in the Senate on April 21, 2009, to replace the previous version of the bill with one that revises details but does not change the substance of the bill as previously described. The substitute passed by voice vote in the Senate on April 21, 2009.
  • Amendment offered by Sen. Michael Switalski (D) on April 22, 2009, to remove a reference to limited liability companies in the definition of a legal "person". The amendment passed by voice vote in the Senate on April 22, 2009.
• Passed 35 to 0 in the Senate on April 22, 2009.
  Who Voted "Yes" and Who Voted "No"
• Received in the House on April 22, 2009.
  • Referred to the House Banking and Financial Services Committee on April 22, 2009.
    • Reported in the House on June 11, 2009, without amendment and with the recommendation that the bill pass.
• Passed 106 to 0 in the House on August 26, 2009.
  Who Voted "Yes" and Who Voted "No"
• Signed by Gov. Jennifer Granholm on September 10, 2009.