Ask a business law question, get an answer ASAP!
Thousands of highly rated, verified business lawyers.
Click here to chat with a lawyer about your rights.

Terms Used In Michigan Laws 15.484

  • Board: means a board, commission, committee, or subcommittee in the department that has authority in regulatory actions concerning private individuals or entities. See Michigan Laws 15.481
  • Contract: A legal written agreement that becomes binding when signed.
  • Department: means the department of licensing and regulatory affairs. See Michigan Laws 15.481
  • Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
  • Immediate family member: means a grandparent, parent, parent-in-law, stepparent, sibling, spouse, child, or stepchild. See Michigan Laws 15.481
    A contract, grant, or loan that a board enters into with or awards to a board member or an immediate family member of a board member with an interest in the matter is adopted in violation of conflict of interest standards and is voidable at the option of the department unless the affected board member complies with all of the following:
    (a) Except as expressly permitted by applicable law, the affected board member has abstained from participating in the discussion or vote on the matter.
    (b) The affected board member immediately upon knowledge or discovery discloses the pecuniary, contractual, business, employment, or personal interest in the contract, grant, or loan in the manner required by this act and other applicable law.