Section 700.1501 - Short title of part; definitions(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.1998, Act 386, Eff. 4/1/2000 .