Terms Used In Michigan Laws > Chapter 333 > Act 557 of 2008 - Children's Miracle Network Fund Act

• Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
• Commissioner: means the director. See Michigan Laws 500.102
• Contract: A legal written agreement that becomes binding when signed.
• Department: means the department of community health. See Michigan Laws 333.26563
• Department: means the department of insurance and financial services. See Michigan Laws 500.102
• Director: means , unless the context clearly implies a different meaning, the director of the department. See Michigan Laws 500.102
• 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.
• Fund: means the children's miracle network fund created in section 5. See Michigan Laws 333.26563
• Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
• good moral character: means good moral character as defined and determined under Act No. See Michigan Laws 500.1200
• Insurance: means any of the lines of authority in chapter 6. See Michigan Laws 500.1201
• Insurance producer: means a person required to be licensed under the laws of this state to sell, solicit, or negotiate insurance. See Michigan Laws 500.1201
• Insurer: means an individual, corporation, association, partnership, reciprocal exchange, inter-insurer, Lloyds organization, fraternal benefit society, or other legal entity, engaged or attempting to engage in the business of making insurance or surety contracts. See Michigan Laws 500.106
• Interrogatories: Written questions asked by one party of an opposing party, who must answer them in writing under oath; a discovery device in a lawsuit.
• License: means a document issued by the director authorizing a person to act as an insurance producer for the qualifications specified in the document. See Michigan Laws 500.1201
• Rate: means the cost of insurance per payroll before adjustment for an individual insured's size, exposure, or loss experience. See Michigan Laws 500.2402
• Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
• Solicit: means attempting to sell insurance or asking or urging a person to apply for a particular kind of insurance from a particular company. See Michigan Laws 500.1201
• Statute: A law passed by a legislature.