Michigan Laws > Chapter 17 > Act 315 of 1947 – Lease of Lands to Public Building Corporation
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| § 17.251 | Lease of state lands to public building corporation, subject to legislative approval |
Terms Used In Michigan Laws > Chapter 17 > Act 315 of 1947 - Lease of Lands to Public Building Corporation
- Collateral: means the property subject to a security interest or agricultural lien. See Michigan Laws 440.9102
- Commodity account: means an account maintained by a commodity intermediary in which a commodity contract is carried for a commodity customer. See Michigan Laws 440.9102
- Commodity contract: means a commodity futures contract, an option on a commodity futures contract, a commodity option, or another contract if the contract or option is 1 of the following:
(i) Traded on or subject to the rules of a board of trade that has been designated as a contract market for such a contract pursuant to federal commodities laws. See Michigan Laws 440.9102Commodity intermediary: means 1 of the following:
(i) A person that is registered as a futures commission merchant under federal commodities law. See Michigan Laws 440.9102Concurrent resolution: A legislative measure, designated "S. Con. Res." and numbered consecutively upon introduction, generally employed to address the sentiments of both chambers, to deal with issues or matters affecting both houses, such as a concurrent budget resolution, or to create a temporary joint committee. Concurrent resolutions are not submitted to the President/Governor and thus do not have the force of law. Delivery: means either of the following:
(i) With respect to an electronic document of title, a voluntary transfer of control. See Michigan Laws 440.1201Entitlement: 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. 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. Investment property: means a security, whether certificated or uncertificated, security entitlement, securities account, commodity contract, or commodity account. See Michigan Laws 440.9102 Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC Lien: A claim against real or personal property in satisfaction of a debt. Military: means a reference to all components of the state military establishment. See Michigan Laws 32.505 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 Secured party: means 1 or more of the following:
(i) A person in whose favor a security interest is created or provided for under a security agreement, whether or not any obligation to be secured is outstanding. See Michigan Laws 440.9102Security interest: means an interest in personal property or fixtures which secures payment or performance of an obligation. See Michigan Laws 440.1201 Special duty: means military service in support of the full-time operation of the state military establishment for a period of not less than 1 day if ordered by competent authority. See Michigan Laws 32.505