Terms Used In Michigan Laws > Chapter 500 > Act 218 of 1956 > Chapter 50 - Organization of Domestic Stock and Mutual Insurers

• Administrator: means that term as defined in section 105 of the nonprofit act, MCL 450. See Michigan Laws 390.1572
• Advice and consent: Under the Constitution, presidential nominations for executive and judicial posts take effect only when confirmed by the Senate, and international treaties become effective only when the Senate approves them by a two-thirds vote.
• 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.
• annual meeting: when applied to townships, mean the annual meeting required by law to be held on the Saturday immediately preceding the first Monday in April. See Michigan Laws 8.3d
• Commissioner: means the director. See Michigan Laws 500.102
• Community college: means a community college organized under the community college act of 1966, 1966 PA 331, MCL 389. See Michigan Laws 390.1572
• 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.
• 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.
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• Department: means the department of community health. See Michigan Laws 390.1592
• Director: means , unless the context clearly implies a different meaning, the director of the department. See Michigan Laws 500.102
• Director: means the director of the department of career development or his or her designee. See Michigan Laws 390.1572
• 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}
• 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.
• 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.
• 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 pregnant and parenting student services fund created in section 3. See Michigan Laws 390.1592
• Institution of higher education: means a degree or certificate granting public or private college or university, junior college, or community college in this state. See Michigan Laws 390.1592
• 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
• Intangible property: Property that has no intrinsic value, but is merely the evidence of value such as stock certificates, bonds, and promissory notes.
• Majority leader: see Floor Leaders
• Nonprofit act: means the nonprofit corporation act, 1982 PA 162, MCL 450. See Michigan Laws 390.1572
• Office: means a pregnant and parenting student services office established and operated by an institution of higher education and described in section 5. See Michigan Laws 390.1592
• person: may extend and be applied to bodies politic and corporate, as well as to individuals. See Michigan Laws 8.3l
• Precedent: A court decision in an earlier case with facts and law similar to a dispute currently before a court. Precedent will ordinarily govern the decision of a later similar case, unless a party can show that it was wrongly decided or that it differed in some significant way.
• 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 school: means a local school district, a local act school district, a public school academy, a university school, or an intermediate school district established under the revised school code, 1976 PA 451, MCL 380. See Michigan Laws 390.1572
• Quorum: The number of legislators that must be present to do business.
• Registered distance learning corporation: means a distance learning corporation incorporated under the nonprofit act and registered under this act. See Michigan Laws 390.1572
• 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