Terms Used In Michigan Laws > Chapter 750 > Act 328 of 1931 > Chapter XII - Attempts

• Contract: A legal written agreement that becomes binding when signed.
• Creditor: means a person for whose benefit a licensee collects and disperses money. See Michigan Laws 451.412
• Debt management: means the planning and management of the financial affairs of a debtor and the receipt of money from the debtor for distribution to 1 or more of the debtor's creditors in payment or partial payment of the debtor's obligations. See Michigan Laws 451.412
• Debtor: means a person from which money is collected for the benefit of a creditor of the debtor. See Michigan Laws 451.412
• Department: means the department of insurance and financial services. See Michigan Laws 451.412
• Director: means the director of the department or his or her authorized representative. See Michigan Laws 451.412
• felony: when used in this act, shall be construed to mean an offense for which the offender, on conviction may be punished by death, or by imprisonment in state prison. See Michigan Laws 750.7
• License: means a written certificate or exemption order issued by the director under this act. See Michigan Laws 451.412
• Licensee: means a person that is licensed, or is required to be licensed, under this act to perform debt management services and is located inside or outside the boundaries of this state. See Michigan Laws 451.412
• month: means a calendar month; the word "year" a calendar year; and the word "year" alone shall be equivalent to the words "year of our Lord". See Michigan Laws 8.3j
• person: may extend and be applied to bodies politic and corporate, as well as to individuals. See Michigan Laws 8.3l
• 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