Michigan Laws 38.1132e – Definitions; S
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(1) “Small business” means a corporation, partnership, sole proprietorship, or other entity which does not meet the specific requirements of investments permitted under this act.
(2) “Small business investment company” means an incorporated body or a limited partnership under section 301 of title III of the small business investment act of 1958, Public Law 85-699, 15 U.S.C. § 681.
Terms Used In Michigan Laws 38.1132e
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- Public law: A public bill or joint resolution that has passed both chambers and been enacted into law. Public laws have general applicability nationwide.
- state: when applied to the different parts of the United States, shall be construed to extend to and include the District of Columbia and the several territories belonging to the United States; and the words "United States" shall be construed to include the district and territories. See Michigan Laws 8.3o
(3) “Soft dollar” means brokerage commissions that are used by the system to purchase goods or services.
(4) “Stock” means capital stock, common stock, preferred stock, American depository receipts, or any other evidence of residual ownership of a corporation.
(5) “System” means a public employee retirement system created and established by this state or any political subdivision of this state.