§ 124.451 Short title
§ 124.452 Definitions
§ 124.453 Public authority; formation generally; membership; articles of incorporation; approval
§ 124.454 Public authority; formation by political subdivision; articles of incorporation
§ 124.455 Articles of incorporation; endorsement as evidence of adoption; publication; filing; operative public authority; effective date of articles; validity of incorporation conclusively presumed; excep
§ 124.456 Articles of incorporation; contents
§ 124.457 Membership after formation of public authority; resolution; approval, execution, filing, and publication of amendment to articles
§ 124.458 Conditions to release from membership in public authority; taxes; transportation services; evidence of release; withdrawal from public authority; violation of MCL 168.1 to 168.992 applicable to p
§ 124.459 Tax limitations
§ 124.460 Validation and ratification of acts taken before effective date of act
§ 124.461 Assumption, transfer, assignment, or conveyance of tax revenues, property, rights, duties, and obligations
§ 124.462 Powers of public authority generally; public authority as public benefit agency and instrumentality of state
§ 124.463 Additional powers of public authority
§ 124.464 Additional powers of public authority
§ 124.465 Collective bargaining agreements; employees entering military service
§ 124.466 Exemption of public authority from certain acts in exercise of powers
§ 124.467 Public transportation service; financing
§ 124.468 Tax levy; collection
§ 124.469 Additional tax levy
§ 124.470 Contract with public authority to make payments, appropriations, or contributions; pledge of full faith and credit; tax levy; execution of contract
§ 124.471 Duties of public authority
§ 124.472 Notes and bonds generally
§ 124.473 Notes and bonds; additional provisions; tax exemption; advancing money or delivering property to carry out powers and duties; repayment or payment
§ 124.474 Loans
§ 124.475 Revenues pledged for payment of debt service on bonds or notes subject to statutory lien; substitution of other security
§ 124.476 Investments; use of investment income
§ 124.477 Notes and bonds as securities
§ 124.478 Validation and ratification of prior acts
§ 124.479 Duration of financial obligation
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Terms Used In Michigan Laws > Chapter 124 > Act 196 of 1986 - Public Transportation Authority Act

  • Aggrieved party: means a party entitled to resort to a remedy. See Michigan Laws 440.1201
  • 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.
  • Appraisal: A determination of property value.
  • Bill of lading: means a document of title evidencing the receipt of goods for shipment issued by a person engaged in the business of directly or indirectly transporting or forwarding goods. See Michigan Laws 440.1201
  • Board: means the governing body of a public authority. See Michigan Laws 124.452
  • Buyer: means a person who buys or contracts to buy goods. See Michigan Laws 440.2103
  • Contract for sale: includes both a present sale of goods and a contract to sell goods at a future time. See Michigan Laws 440.2106
  • Deed: The legal instrument used to transfer title in real property from one person to another.
  • Delivery: means either of the following:
    (i) With respect to an electronic document of title, a voluntary transfer of control. See Michigan Laws 440.1201
  • Document of title: means a record that in the regular course of business or financing is treated as adequately evidencing that the person in possession or control of the record is entitled to receive, control, hold, and dispose of the record and the goods the record covers and that purports to be issued by or addressed to a bailee and to cover goods in the bailee's possession which are either identified or are fungible portions of an identified mass. See Michigan Laws 440.1201
  • Fault: means a default, breach, or wrongful act or omission. See Michigan Laws 440.1201
  • 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
  • Fraud: Intentional deception resulting in injury to another.
  • Good faith: except as otherwise provided in article 5, means honesty in fact and the observance of reasonable commercial standards of fair dealing. See Michigan Laws 440.1201
  • Goods: means baggage, accessories, or other personal property carried by or accompanying persons using public transportation service. See Michigan Laws 124.452
  • Holder: means any of the following:
    •     (i) A person in possession of a negotiable instrument that is payable either to bearer or to an identified person that is the person in possession. See Michigan Laws 440.1201
  • Indemnification: In general, a collateral contract or assurance under which one person agrees to secure another person against either anticipated financial losses or potential adverse legal consequences. Source: FDIC
  • Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
  • Insolvent: means any of the following:
    •     (i) Having generally ceased to pay debts in the ordinary course of business other than as a result of a bona fide dispute. See Michigan Laws 440.1201
  • Legal tender: coins, dollar bills, or other currency issued by a government as official money. Source: U.S. Mint
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
  • Money: means a medium of exchange authorized or adopted by a domestic or foreign government. See Michigan Laws 440.1201
  • Nolo contendere: No contest-has the same effect as a plea of guilty, as far as the criminal sentence is concerned, but may not be considered as an admission of guilt for any other purpose.
  • 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, corporation, business trust, estate, trust, partnership, limited liability company, association, joint venture, government, governmental subdivision, agency, or instrumentality, public corporation, or any other legal or commercial entity. See Michigan Laws 440.1201
  • Plea: In a criminal case, the defendant's statement pleading "guilty" or "not guilty" in answer to the charges, a declaration made in open court.
  • Political subdivision: means a county, city, village, or township. See Michigan Laws 124.452
  • Probate: Proving a will
  • Public authority: means an authority created under this act. See Michigan Laws 124.452
  • Public transportation system: means a system for providing public transportation service, including public transportation facilities. See Michigan Laws 124.452
  • Purchase: means taking by sale, lease, discount, negotiation, mortgage, pledge, lien, security interest, issue or reissue, gift, or any other voluntary transaction creating an interest in property. See Michigan Laws 440.1201
  • Purchaser: means a person that takes by purchase. See Michigan Laws 440.1201
  • Record: means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in perceivable form. See Michigan Laws 440.1201
  • 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.
  • Remedy: means any remedial right to which an aggrieved party is entitled with or without resort to a tribunal. See Michigan Laws 440.1201
  • Revenue: means money received by the public authority as provided in section 17. See Michigan Laws 124.452
  • Right: includes remedy. See Michigan Laws 440.1201
  • Security interest: means an interest in personal property or fixtures which secures payment or performance of an obligation. See Michigan Laws 440.1201
  • Seller: means a person who sells or contracts to sell goods. See Michigan Laws 440.2103
  • State: means a state of the United States, the District of Columbia, Puerto Rico, the United States Virgin Islands, or any territory or insular possession subject to the jurisdiction of the United States. See Michigan Laws 440.1201
  • Statute: A law passed by a legislature.
  • Taxable property: means the property taxable under the general property tax act, Act No. See Michigan Laws 124.452
  • Term: means a portion of an agreement that relates to a particular matter. See Michigan Laws 440.1201
  • third party: means a person that has engaged in a transaction or made an agreement subject to this act. See Michigan Laws 440.1201
  • Trustee: A person or institution holding and administering property in trust.
  • Uniform Commercial Code: A set of statutes enacted by the various states to provide consistency among the states' commercial laws. It includes negotiable instruments, sales, stock transfers, trust and warehouse receipts, and bills of lading. Source: OCC
  • writing: includes printing, typewriting, or any other intentional reduction to tangible form. See Michigan Laws 440.1201