Terms Used In Michigan Laws > Chapter 21 > Act 22 of 1875 - Proceeds From Sale of Educational Lands

• Allegation: something that someone says happened.
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Candidate: means that term as defined in section 3 of the Michigan campaign finance act, 1976 PA 388, MCL 169. See Michigan Laws 169.303
• Candidate for office: means a candidate for any of the following offices who is subject to the Michigan campaign finance act, 1976 PA 388, MCL 169. See Michigan Laws 169.303
• common source of supply: means a natural underground reservoir containing or appearing to contain a common accumulation of oil and gas. See Michigan Laws 324.61701
• Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
• 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.
• Department: means the department of state. See Michigan Laws 169.303
• Earned income: means salaries, wages, tips, bonuses, commissions, or other compensation or earnings from employment earned during the reporting period. See Michigan Laws 169.303
• Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
• Field: means an underground reservoir or reservoirs containing oil or gas, or both. See Michigan Laws 324.61701
• Form: means the financial disclosure form created by the department in accordance with section 11. See Michigan Laws 169.303
• Military: includes each armed force of the United States and each component of the state military establishment. See Michigan Laws 32.1002
• Oil and gas: means oil and gas as such in combination one with the other and also means oil, gas, casinghead gas, casinghead gasoline, gas distillate, or other hydrocarbons, or any combination or combinations of these substances, which may be found in or produced from a common source of supply of oil, gas, oil and gas, or gas distillate. See Michigan Laws 324.61701
• 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: may extend and be applied to bodies politic and corporate, as well as to individuals. See Michigan Laws 8.3l
• Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
• Report: means the financial disclosure report required under section 10 of article IV of the state constitution of 1963. See Michigan Laws 169.303
• Reporting period: means the preceding calendar year. See Michigan Laws 169.303
• Spouse: means an individual who is lawfully married to a candidate for office as described under 26 C. See Michigan Laws 169.303
• Trustee: A person or institution holding and administering property in trust.
• Unearned income: means income that is not earned from employment, including, but not limited to, financial prize, unemployment benefits, annuities, stock dividends, deferred compensation, pension, profit sharing, or retirement income. See Michigan Laws 169.303
• Unit area: means the formation or formations that are unitized and surface acreage that is a part of the unitized lands, as described in the plan for unit operations that is the subject of the supervisor's order as provided in section 61706. See Michigan Laws 324.61701