(i) A savings bank, directly or indirectly, owns or controls either a majority of its voting shares or more than 50% of the number of shares voted for the election of its directors, trustees, or other persons exercising similar functions at the preceding election, or controls in any manner the election of a majority of its directors, trustees, or other persons exercising similar functions. See Michigan Laws 487.3102

Agency office: means a place at which the business of a savings bank is conducted other than by regularly employed personnel of the savings bank, as provided under section 417(6). See Michigan Laws 487.3102

Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.

Articles: means articles of incorporation, all amendments to articles of incorporation, and agreements of consolidation and merger. See Michigan Laws 487.3102

Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.

Association: means a federal savings association organized under section 5 of the home owners' loan act, chapter 64, 48 Stat. See Michigan Laws 487.3102

Bank: means a state banking corporation organized or reorganized under the provisions of the banking code of 1999, 1999 PA 276, MCL 487. See Michigan Laws 487.3102

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}

Branch: means a place of business, other than the principal office of a savings bank, at which the savings bank transacts business that may be conducted at its principal office. See Michigan Laws 487.3102

Bureau: means the office of financial and insurance services in the department of consumer and industry services. See Michigan Laws 487.3102

Capacity assessment: means an evaluation of the technical, financial, and managerial capability of a community supply or nontransient noncommunity water supply to comply and maintain compliance with all requirements of this act and the rules promulgated under this act. See Michigan Laws 325.1002

Capital: means the stated par value of issued and outstanding unimpaired common stock and the stated par value of issued and outstanding unimpaired preferred stock. See Michigan Laws 487.3102

Commissioner: means the commissioner of the office of financial and insurance services. See Michigan Laws 487.3102

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.

Community supply: means a public water supply that provides year-round service to not fewer than 15 living units or which regularly provides year-round service to not fewer than 25 residents. See Michigan Laws 325.1002

Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.

Contaminant: means a physical, chemical, biological, or radiological substance or matter in water. See Michigan Laws 325.1002

Contract: A legal written agreement that becomes binding when signed.

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.

Critical health problem: means any of the following:

    (i) Lead poisoning. See Michigan Laws 325.72

Customer site piping: means an underground piping system owned or controlled by the customer that conveys water from the customer service connection to building plumbing systems and other points of use on lands owned or controlled by the customer. See Michigan Laws 325.1002

Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.

Department: means the department of environmental quality or its authorized agent or representative. See Michigan Laws 325.1002

Department: means the department of public health created and operating under section 425 to 427 of Act No. See Michigan Laws 325.72

Department: means the department of treasury. See Michigan Laws 325.851

Depository institution: means a bank, out-of-state bank, national bank, association, savings bank, cooperative bank, industrial bank, or credit union organized under the laws of this state, another state, the District of Columbia, the United States, or a territory or protectorate of the United States. See Michigan Laws 487.3102

Director: means a director, trustee, or other person holding a similar position with respect to an organization whether incorporated or unincorporated. See Michigan Laws 487.3102

Director: means the director of the department of environmental quality or his or her authorized agent or representative. See Michigan Laws 325.1002

Director: means the state director of public health or a person designated by the director to act in place of the director. See Michigan Laws 325.72

Electronic funds transfer: The transfer of money between accounts by consumer electronic systems-such as automated teller machines (ATMs) and electronic payment of bills-rather than by check or cash. (Wire transfers, checks, drafts, and paper instruments do not fall into this category.) ^{Source: OCC}

Escrow: Money given to a third party to be held for payment until certain conditions are met.

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.

Ex officio: Literally, by virtue of one's office.

Executor: A male person named in a will to carry out the decedent

Facility: means a governmental or private agency, department, institution, clinic, laboratory, hospital, or a health maintenance organization, association, or other similar unit designated by the director. See Michigan Laws 325.72

Federal Deposit Insurance Corporation: A government corporation that insures the deposits of all national and state banks that are members of the Federal Reserve System. ^{Source: OCC}

Federal reserve act: means the federal reserve act, chapter 6, 38 Stat. See Michigan Laws 487.3102

Federal Reserve System: The central bank of the United States. The Fed, as it is commonly called, regulates the U.S. monetary and financial system. The Federal Reserve System is composed of a central governmental agency in Washington, D.C. (the Board of Governors) and twelve regional Federal Reserve Banks in major cities throughout the United States. ^{Source: OCC}

Fiduciary: means a trustee, executor, administrator, guardian, conservator, agent, receiver, trustee in bankruptcy, assignee for creditors, or any holder of a similar position of trust. See Michigan Laws 487.3102

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.

Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. ^{Source: OCC}

Foreign country: means a country other than the United States and includes a colony, dependency, or possession of a country other than the United States. See Michigan Laws 487.3102

Fund: means the toxic substance loan repayment fund established in section 4. See Michigan Laws 325.851

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.

in writing: shall be construed to include printing, engraving, and lithographing; except that if the written signature of a person is required by law, the signature shall be the proper handwriting of the person or, if the person is unable to write, the person's proper mark, which may be, unless otherwise expressly prohibited by law, a clear and classifiable fingerprint of the person made with ink or another substance. See Michigan Laws 8.3q

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}

Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.

Lien: A claim against real or personal property in satisfaction of a debt.

Loan production office: means an office of the savings bank at which only activities related to money lending are conducted, which is not the principal office or a branch or an agency office or an office of an affiliated depository institution. See Michigan Laws 487.3103

Member: means a person holding a savings account of a mutual savings bank. See Michigan Laws 487.3103

Messenger service: means a service such as a courier service or an armored car service that picks up from or delivers to customers of 1 or more depository institutions or 1 or more affiliates of a depository institution cash, currency, checks, drafts, securities, or other items relating to transactions between or involving a depository institution or affiliate of a depository institution and those customers, or that transfers cash, currency, checks, drafts, securities, or other items or documents between depository institutions or affiliates of depository institutions. See Michigan Laws 487.3103

Mobile branch: means a branch in which the location of the physical structure of the branch is moved from time to time. See Michigan Laws 487.3103

Mortgage: The written agreement pledging property to a creditor as collateral for a loan.

Mutual savings bank: means a savings bank for which the articles of incorporation do not authorize the issuance of common or preferred stock. See Michigan Laws 487.3103

National bank: means a bank chartered by the federal government under the national bank act, chapter 106, 13 Stat. See Michigan Laws 487.3103

National Bank: A bank that is subject to the supervision of the Comptroller of the Currency. The Office of the Comptroller of the Currency is a bureau of the U.S. Treasury Department. A national bank can be recognized because it must have "national" or "national association" in its name. ^{Source: OCC}

Nontransient noncommunity water supply: means a noncommunity public water supply that serves not fewer than 25 of the same individuals on an average daily basis over 6 months per year. See Michigan Laws 325.1002

Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.

Open-end credit: A credit agreement (typically a credit card) that allows a customer to borrow against a preapproved credit line when purchasing goods and services. The borrower is only billed for the amount that is actually borrowed plus any interest due. (Also called a charge account or revolving credit.) ^{Source: OCC}

Out-of-state bank: means a banking corporation or savings bank organized under the laws of another state, the District of Columbia, or a territory of the United States whose principal office is located in a state other than this state, the District of Columbia, a territory or a protectorate of the United States, and whose deposits are insured by the federal deposit insurance corporation. See Michigan Laws 487.3103

Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.

Person: means an individual, partnership, copartnership, cooperative, firm, company, public or private association or corporation, political subdivision, agency of the state, agency of the federal government, trust, estate, joint structure company, or any other legal entity, or their legal representative, agent, or assigns. See Michigan Laws 325.1002

person: may extend and be applied to bodies politic and corporate, as well as to individuals. See Michigan Laws 8.3l

Person: means an individual, corporation, limited liability company, governmental entity, partnership, limited liability partnership, or other legal entity. See Michigan Laws 487.3103

Personal property: All property that is not real property.

Plans and specifications: means drawings, data, and a true description or representation of an entire waterworks system or parts of the system as it exists or is to be constructed, and a statement on how a waterworks system is to be operated. See Michigan Laws 325.1002

Political subdivision: means a city, village, township, charter township, county, district, authority or portion or combination thereof. See Michigan Laws 325.1002

Probate: Proving a will

Public law: A public bill or joint resolution that has passed both chambers and been enacted into law. Public laws have general applicability nationwide.

Public water supply: means a waterworks system that provides water for drinking or household purposes to persons other than the supplier of the water, and does not include either of the following:

    (i) A waterworks system that supplies water to only 1 living unit. See Michigan Laws 325.1002

Quorum: The number of legislators that must be present to do business.

Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.

Recourse: An arrangement in which a bank retains, in form or in substance, any credit risk directly or indirectly associated with an asset it has sold (in accordance with generally accepted accounting principles) that exceeds a pro rata share of the bank's claim on the asset. If a bank has no claim on an asset it has sold, then the retention of any credit risk is recourse. ^{Source: FDIC}

Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.

Savings bank: means a state banking corporation organized or reorganized under this act. See Michigan Laws 487.3103

seal: shall be construed to include any of the following:

    (a) The impression of the seal on the paper alone. See Michigan Laws 8.3n

Service entity: means a stock corporation, mutual company, limited liability company, limited liability partnership, or limited partnership in which a savings bank has invested under section 410. See Michigan Laws 487.3103

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.

shall not apply: means that the pertinent provision is not operative as to certain persons or things or in conjunction with a particular date or dates. See Michigan Laws 8.4c

Source water assessment: means a state program to delineate the boundaries of areas in the state from which 1 or more public water supplies receive supplies of drinking water, to identify contaminants regulated under this act for which monitoring is required because the state has determined they may present a threat to public health, and, to the extent practical, to determine the susceptibility of the public water supply in the delineated area to these contaminants. See Michigan Laws 325.1002

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

State drinking water standards: means quality standards setting limits for contaminant levels or establishing treatment techniques to meet standards necessary to protect the public health. See Michigan Laws 325.1002

Statute: A law passed by a legislature.

Stock savings bank: means a savings bank for which the articles of incorporation authorize the issuance of capital stock. See Michigan Laws 487.3103

Subpoena: A command to a witness to appear and give testimony.

Subsidiary: means a corporation, mutual company, limited liability company, limited liability partnership, or limited partnership, the controlling interests of which are more than 50% owned by 1 or more federally insured depository institutions, and in which a savings bank has an ownership interest, membership interest, or other legally enforceable interest which has the indicia of ownership. See Michigan Laws 487.3103

supplier: means a person who owns or operates a public water supply, and includes a water hauler. See Michigan Laws 325.1002

Surplus: means the amount paid for issued and outstanding common and preferred stock in excess of the stated par value, plus any amount of transferred undivided profits, and any additional amounts paid in or contributed to increase total capital. See Michigan Laws 487.3103

system: means a system of pipes and structures through which water is obtained and distributed, including but not limited to wells and well structures, intakes and cribs, pumping stations, treatment plants, storage tanks, pipelines and appurtenances, or a combination thereof, actually used or intended for use for the purpose of furnishing water for drinking or household purposes. See Michigan Laws 325.1002

Total capital: means an amount equal to any capital, plus any surplus, undivided profits, and instruments of indebtedness authorized under section 310. See Michigan Laws 487.3103

Trustee: A person or institution holding and administering property in trust.

United States: shall be construed to include the district and territories. See Michigan Laws 8.3o

Value: means the present worth of all rights to future benefits arising from ownership. See Michigan Laws 487.3103

Water main: means a pipe owned or controlled by a supplier that may convey water to a customer service connection or to a fire hydrant. See Michigan Laws 325.1002