Terms Used In Michigan Laws > Chapter 14 > Act 78 of 1971 - Charitable Trustees Powers Act

• Absent voter: is a voter who utilizes the process described in section 759. See Michigan Laws 168.2
• Absent voter ballot: means a ballot that is issued to a voter through the absent voter process. See Michigan Laws 168.2
• Allegation: something that someone says happened.
• Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
• Amortization: Paying off a loan by regular installments.
• Annual report: means the most recent audited financial statement reporting a local unit of government's liability for retirement pension benefits and retirement health benefits as determined under applicable government accounting standards of the Governmental Accounting Standards Board. See Michigan Laws 38.2803
• Annual required contribution: means the sum of the normal cost payment and the annual amortization payment for past service costs to fund the unfunded actuarial accrued liability. See Michigan Laws 38.2803
• Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
• Appraisal: A determination of property value.
• 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
• Armed forces: means the United States Army, Air Force, Navy, Marine Corps, Space Force, or Coast Guard or other military force designated by Congress as part of the Armed Forces of the United States, including the reserve components. See Michigan Laws 333.16103
• Arraignment: A proceeding in which an individual who is accused of committing a crime is brought into court, told of the charges, and asked to plead guilty or not guilty.
• Arrest: Taking physical custody of a person by lawful authority.
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
• Attorney general: means the department of the attorney general. See Michigan Laws 324.20101
• Ballot container: means a container that is used for transporting and storing voted ballots, as described and approved under section 24j. See Michigan Laws 168.14a
• Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
• 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}
• Bequest: Property gifted by will.
• board: means the municipal stability board created in section 7. See Michigan Laws 38.2803
• Board: as used in this part means each board created in this article and as used in any other part covering a specific health profession means the board created in that part. See Michigan Laws 333.16103
• Commission: means the commission of natural resources. See Michigan Laws 324.301
• Commission: means the Michigan state waterways commission created in part 781. See Michigan Laws 324.79101
• Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.
• Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
• Contract: A legal written agreement that becomes binding when signed.
• Controlled substance: means that term as defined in section 7104. See Michigan Laws 333.16103
• Conviction: A judgement of guilt against a criminal defendant.
• Conviction: means a judgment entered by a court on a plea of guilty, guilty but mentally ill, or nolo contendere or on a jury verdict or court finding that a defendant is guilty or guilty but mentally ill. See Michigan Laws 333.16103
• 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.
• Corrective action plan: means a plan that details the actions to be taken by a local unit of government to address and resolve the underfunded status of the local unit of government. See Michigan Laws 38.2803
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• Deed: The legal instrument used to transfer title in real property from one person to another.
• Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
• Department: means the director of the department of natural resources or his or her designee to whom the director delegates a power or duty by written instrument. See Michigan Laws 324.301
• Department: means the director or his or her designee to whom the director delegates a power or duty by written instrument. See Michigan Laws 324.20101
• Department: means the department of environmental quality. See Michigan Laws 324.32501
• Dependent: A person dependent for support upon another.
• Director: means the director of the department. See Michigan Laws 324.32501
• Directors: means the directors or their designees of the departments of environmental quality, community health, agriculture and rural development, and state police. See Michigan Laws 324.20101
• Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
• Disposal: means the discharge, deposit, injection, dumping, spilling, leaking, or placing of any hazardous substance into or on any land or water so that the hazardous substance or any constituent of the hazardous substance may enter the environment or be emitted into the air or discharged into any groundwater or surface water. See Michigan Laws 324.20101
• Donee: The recipient of a gift.
• Donor: The person who makes a gift.
• Election: means an election or primary election at which the electors of this state or of a subdivision of this state choose or nominate by ballot an individual for public office or decide a ballot question lawfully submitted to them. See Michigan Laws 168.2
• Employee: means an individual holding a position by election, appointment, or employment in a local unit of government. See Michigan Laws 38.2803
• Entitlement: A Federal program or provision of law that requires payments to any person or unit of government that meets the eligibility criteria established by law. Entitlements constitute a binding obligation on the part of the Federal Government, and eligible recipients have legal recourse if the obligation is not fulfilled. Social Security and veterans' compensation and pensions are examples of entitlement programs.
• Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. ^{Source: U.S. Courts}
• Escrow: Money given to a third party to be held for payment until certain conditions are met.
• Evaluation system: means the local government retirement and benefits fiscal impact evaluation system created under section 5 to provide for the identification of, and a corrective action plan to resolve, the underfunded status of a local unit of government under this act. See Michigan Laws 38.2803
• 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.
• Facility: means any area, place, parcel or parcels of property, or portion of a parcel of property where a hazardous substance in excess of the concentrations that satisfy the cleanup criteria for unrestricted residential use has been released, deposited, disposed of, or otherwise comes to be located. See Michigan Laws 324.20101
• Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
• Fiduciary: A trustee, executor, or administrator.
• Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
• Former employee: means an individual who was an employee who terminated employment with the applicable local unit of government. See Michigan Laws 38.2803
• Fraud: Intentional deception resulting in injury to another.
• Freedom of Information Act: A federal law that mandates that all the records created and kept by federal agencies in the executive branch of government must be open for public inspection and copying. The only exceptions are those records that fall into one of nine exempted categories listed in the statute. ^{Source: OCC}
• Fund: means the cleanup and redevelopment fund established in section 20108. See Michigan Laws 324.20101
• Garnishment: Generally, garnishment is a court proceeding in which a creditor asks a court to order a third party who owes money to the debtor or otherwise holds assets belonging to the debtor to turn over to the creditor any of the debtor
• General fund operating revenues: means the sum of all governmental activity fund revenues of a local unit of government as determined by the state treasurer based on applicable government accounting standards of the Governmental Accounting Standards Board. See Michigan Laws 38.2803
• Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
• Grantor: The person who establishes a trust and places property into it.
• grantor: may be construed as including every person from or by whom any estate in lands passes in or by any deed. See Michigan Laws 8.3e
• 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.
• Harbor: means a portion of a lake or other body of water either naturally or artificially protected in order to be a place of safety for watercraft. See Michigan Laws 324.79101
• Harbor facilities: means the structures of a harbor constructed to protect the lake or body of water and the facilities provided within the harbor and on shore for the mooring and servicing of watercraft and the servicing of crews and passengers. See Michigan Laws 324.79101
• Hazardous material: means a chemical or other material which is or may become injurious to the public health, safety, or welfare, or to the environment. See Michigan Laws 324.20301
• Hazardous substance: means 1 or more of the following, but does not include fruit, vegetable, or field crop residuals or processing by-products, or aquatic plants, that are applied to the land for an agricultural use or for use as an animal feed, if the use is consistent with generally accepted agricultural management practices at the time of the application or stamp sands: