Terms Used In Michigan Laws > Chapter 333 > E.R.O. No. 2009-6 - Executive Reorganization Order

• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Audited financial report: means the report required in section 1005 and furnished under section 1007. See Michigan Laws 500.1001
• Commissioner: means the director. See Michigan Laws 500.102
• Independent public accountant: means an independent certified public accountant or accounting firm in good standing with the American Institute of Certified Public Accountants and in good standing in all states in which the accountant or accounting firm is licensed to practice. See Michigan Laws 500.1001
• Insurer: means that term as defined in section 106 and includes a nonprofit dental care corporation operating under 1963 PA 125, MCL 550. See Michigan Laws 500.1001
• Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
• 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