Michigan Laws > Chapter 125 > Act 165 of 1975 – Division of Minority Business Enterprise
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Terms Used In Michigan Laws > Chapter 125 > Act 165 of 1975 - Division of Minority Business Enterprise
- Adverse claim: means a claim that a claimant has a property interest in a financial asset and that it is a violation of the rights of the claimant for another person to hold, transfer, or deal with the financial asset. See Michigan Laws 440.8102
- Advice and consent: Under the Constitution, presidential nominations for executive and judicial posts take effect only when confirmed by the Senate, and international treaties become effective only when the Senate approves them by a two-thirds vote.
- Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
- Certificated security: means a security that is represented by a certificate. See Michigan Laws 440.8102
- Contract: A legal written agreement that becomes binding when signed.
- Delivery: means either of the following:
(i) With respect to an electronic document of title, a voluntary transfer of control. See Michigan Laws 440.1201Department: means the department of commerce. See Michigan Laws 125.1222 Division: means the division of minority business enterprise. See Michigan Laws 125.1222 Genuine: means free of forgery or counterfeiting. See Michigan Laws 440.1201 Holder: means any of the following:
(i) A person in possession of a negotiable instrument that is payable either to bearer or to an identified person that is the person in possession. See Michigan Laws 440.1201Indorsement: means a signature that alone or accompanied by other words is made on a security certificate in registered form or on a separate document for the purpose of assigning, transferring, or redeeming the security or granting a power to assign, transfer, or redeem the security. See Michigan Laws 440.8102 Legacy: A gift of property made by will. Minority business enterprise: means a business enterprise that is owned or controlled solely by 1 or more socially or economically disadvantaged persons. See Michigan Laws 125.1222 Person: means an individual, corporation, business trust, estate, trust, partnership, limited liability company, association, joint venture, government, governmental subdivision, agency, or instrumentality, public corporation, or any other legal or commercial entity. See Michigan Laws 440.1201 Purchase: means taking by sale, lease, discount, negotiation, mortgage, pledge, lien, security interest, issue or reissue, gift, or any other voluntary transaction creating an interest in property. See Michigan Laws 440.1201 Purchaser: means a person that takes by purchase. See Michigan Laws 440.1201 Securities intermediary: means either of the following:
(i) A clearing corporation. See Michigan Laws 440.8102Security: except as otherwise provided in section 8103, means an obligation of an issuer or a share, participation, or other interest in an issuer or in property or an enterprise of an issuer and is all of the following:
(i) Represented by a security certificate in bearer or registered form, or the transfer of which may be registered upon books maintained for that purpose by or on behalf of the issuer. See Michigan Laws 440.8102Security certificate: means a certificate representing a security. See Michigan Laws 440.8102 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 Transportation administration collection fund: means the fund created under section 810b. See Michigan Laws 257.811d Trustee: A person or institution holding and administering property in trust. Uncertificated security: means a security that is not represented by a certificate. See Michigan Laws 440.8102 United States: shall be construed to include the district and territories. See Michigan Laws 8.3o