Terms Used In Michigan Laws > Chapter 123 > Act 179 of 1947 - Joint Garbage and Rubbish Disposal

• Appraiser: means an individual licensed under article 26 of the occupational code, 1980 PA 299, MCL 339. See Michigan Laws 123.311
• Authority: means an authority incorporated under this act. See Michigan Laws 123.311
• Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. ^{Source: OCC}
• Commercial purpose: means used in connection with any business or other undertaking intended for profit, but does not include the rental of residential real property for a period of less than 15 days in a calendar year. See Michigan Laws 211.27a
• Corrective action: means that term as defined in section 11502 of the natural resources and environmental protection act, 1994 PA 451, MCL 324. See Michigan Laws 123.311
• Devise: To gift property by will.
• Environmental liabilities: means the costs of landfill closure and postclosure obligations, the costs of corrective action, response activity costs, and fines, penalties, or damages required or assessed by the state under the natural resources and environmental protection act, 1994 PA 451, MCL 324. See Michigan Laws 123.311
• Equity of the authority: means the total fund equity of the authority excluding contributions of capital attributed to the clean Michigan initiative bond fund as set forth in an audit conducted for this purpose except that liabilities shall be reduced by any estimated liabilities that were included in determining total fund equity. See Michigan Laws 123.311
• Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. ^{Source: OCC}
• Former member: means a member that has withdrawn from a qualified authority under this section or a prior member of a qualified authority that has been dissolved under this section. See Michigan Laws 123.311
• Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
• Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. ^{Source: OCC}
• Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
• Intestate: Dying without leaving a will.
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• Lien: A claim against real or personal property in satisfaction of a debt.
• Member: means a municipality that incorporated a qualified authority under section 1 or that became part of a qualified authority under section 7 and that has not withdrawn from the authority under this section. See Michigan Laws 123.311
• Percentage of recent waste delivery: means the amount of municipal solid waste, recyclable materials, and yard waste generated within a particular member's territory and disposed of by the authority during the latest full calendar year for which the authority disposed of such materials or waste generated within the territory of that member, divided by the sum of such amounts for all members, as determined, in the event of a dispute, by independent arbitration. See Michigan Laws 123.311
• Personal property: All property that is not real property.
• Qualified agricultural property: means that term as defined in section 7dd. See Michigan Laws 211.27a
• Qualified authority: means an authority that as of the effective date of this section or thereafter is composed of 10 or more members and has a population residing within its territory of 250,000 or more. See Michigan Laws 123.311
• Rescission: The cancellation of budget authority previously provided by Congress. The Impoundment Control Act of 1974 specifies that the President may propose to Congress that funds be rescinded. If both Houses have not approved a rescission proposal (by passing legislation) within 45 days of continuous session, any funds being withheld must be made available for obligation.
• Residential real property: means real property classified as residential real property under section 34c. See Michigan Laws 211.27a
• Response activity costs: means that term as defined in section 20101 of the natural resources and environmental protection act, 1994 PA 451, MCL 324. See Michigan Laws 123.311
• Revocable trust: A trust agreement that can be canceled, rescinded, revoked, or repealed by the grantor (person who establishes the trust).
• transfer of ownership: means the conveyance of title to or a present interest in property, including the beneficial use of the property, the value of which is substantially equal to the value of the fee interest. See Michigan Laws 211.27a