555.19 Express trust; assignability of interest of beneficiary.
Sec. 19.
No person beneficially interested in a trust for the receipt of the rents and profits of lands, can assign or in any manner dispose of such interest; but the rights and interest of every person for whose benefit a trust for the payment of a sum in gross is created, are assignable.
History: R.S. 1846, Ch. 63 ;– CL 1857, 2649 ;– CL 1871, 4132 ;– How. 5581 ;– CL 1897, 8847 ;– CL 1915, 11583 ;– CL 1929, 12985 ;– CL 1948, 555.19