Michigan Laws > Chapter 259 > Act 327 of 1945 > Chapter III – Aeronautics Department–Creation–Membership–Funds
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Terms Used In Michigan Laws > Chapter 259 > Act 327 of 1945 > Chapter III - Aeronautics Department--Creation--Membership--Funds
- Account debtor: means a person obligated on an account, chattel paper, or general intangible. See Michigan Laws 440.9102
- accounting for: means a record that meets all of the following requirements:
(i) Authenticated by a secured party. See Michigan Laws 440.9102Acquittal: Active service: means service, including active state service and special duty required by law, regulation, or pursuant to order of the governor. See Michigan Laws 32.505 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. advisor: means an individual who has entered into a volunteer agreement with the department to serve as a nondeployable advisor in the Michigan cyber civilian corps. See Michigan Laws 18.222 Advisory board: means the Michigan cyber civilian corps advisory board created under section 9. See Michigan Laws 18.222 Aeronautical facilities: means any device, physical or otherwise, that is an object of nature or that is human-made, that aids and is used in aeronautics. See Michigan Laws 259.2 Aeronautics: means any act or matter that treats or deals with flight in the airspace. See Michigan Laws 259.2 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. Agricultural lien: means an interest, other than a security interest, in farm products that meets all of the following requirements:
- Judgement that a criminal defendant has not been proved guilty beyond a reasonable doubt.
- A verdict of "not guilty."
(i) The interest secures payment or performance of an obligation for 1 or more of the following:
(A) Goods or services furnished in connection with a debtor's farming operation. See Michigan Laws 440.9102Aircraft: means any contrivance used or designed for navigation of or flight in the air. See Michigan Laws 259.2 Airport: means any location, either on land or water, that is used for the landing or take-off of aircraft, and includes the buildings and facilities, if any, on that location. See Michigan Laws 259.2 Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it. Amortization: Paying off a loan by regular installments. Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year. Answer: The formal written statement by a defendant responding to a civil complaint and setting forth the grounds for defense. 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. Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization Armory: means a building, facility, or the lots and grounds used by an army, navy, or air unit of the national guard or organized militia as a home station or for military training. See Michigan Laws 32.505 Arraignment: A proceeding in which an individual who is accused of committing a crime is brought into court, told of the charges, and asked to plead guilty or not guilty. Arrest: Taking physical custody of a person by lawful authority. Art: means an original, visual creation of quality executed in any size or shape, in any media, using any kind or combination of materials. See Michigan Laws 18.71 As-extracted collateral: means 1 or more of the following:
(i) Oil, gas, or other minerals that are subject to a security interest that is created by a debtor having an interest in the minerals before extraction and attaches to the minerals as extracted. See Michigan Laws 440.9102Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account. Attachment: A procedure by which a person's property is seized to pay judgments levied by the court. Attorney-at-law: A person who is legally qualified and licensed to practice law, and to represent and act for clients in legal proceedings. Authority: means the Michigan state housing development authority created in this act. See Michigan Laws 125.1411 Authority-aided mortgage: means a mortgage made, held, purchased, or assisted by the authority. See Michigan Laws 125.1411 Bail: Security given for the release of a criminal defendant or witness from legal custody (usually in the form of money) to secure his/her appearance on the day and time appointed. Bank: means an organization that is engaged in the business of banking. See Michigan Laws 440.9102 Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings. Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC Cash proceeds: means proceeds that are money, checks, deposit accounts, or the like. See Michigan Laws 440.9102 Certificate of title: means a certificate of title with respect to which a statute provides for the security interest in question to be indicated on the certificate as a condition or result of the security interest's obtaining priority over the rights of a lien creditor with respect to the collateral. See Michigan Laws 440.9102 Chattel paper: means a record or records that evidence both a monetary obligation and a security interest in specific goods, a security interest in specific goods and software used in the goods, a security interest in specific goods and license of software used in the goods, a lease of specific goods, or a lease of specific goods and license of software used in the goods. See Michigan Laws 440.9102 Chief information officer: means the individual within the department designated by the governor as the chief information officer for this state. See Michigan Laws 18.222 citation: means a complaint or notice upon which a police officer shall record an occurrence involving 1 or more vehicle law violations by the person cited. See Michigan Laws 257.727c Client: means a municipal, educational, nonprofit, or critical infrastructure organization that has requested and is using the rapid response assistance of the Michigan cyber civilian corps under the direction of the department. See Michigan Laws 18.222 Collateral: means the property subject to a security interest or agricultural lien. See Michigan Laws 440.9102 Commission: means the Hispanic/Latino commission of Michigan created in section 2. See Michigan Laws 18.301 Commission: means the crime victim services commission. See Michigan Laws 18.351 Commission: means the Michigan aeronautics commission. See Michigan Laws 259.3 Commission: means the commission of natural resources. See Michigan Laws 324.301 Communicate: means 1 or more of the following:
(i) To send a written or other tangible record. See Michigan Laws 440.9102Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant. Consignor: means a person that delivers goods to a consignee in a consignment. See Michigan Laws 440.9102 Consumer: means an individual who enters into a transaction primarily for personal, family, or household purposes. See Michigan Laws 440.1201 Consumer goods: means goods that are used or bought for use primarily for personal, family, or household purposes. See Michigan Laws 440.9102 Consumer housing cooperative: means a nonprofit corporation incorporated pursuant to the corporation laws of this state and chapter 5. See Michigan Laws 125.1411 Consumer obligor: means an obligor who is an individual and who incurred the obligation as part of a transaction entered into primarily for personal, family, or household purposes. See Michigan Laws 440.9102 Consumer transaction: means a transaction in which an individual incurs an obligation primarily for personal, family, or household purposes, a security interest secures the obligation, and the collateral is held or acquired primarily for personal, family, or household purposes. See Michigan Laws 440.9102 Consumer-goods transaction: means a consumer transaction in which an individual incurs an obligation primarily for personal, family, or household purposes and a security interest in consumer goods secures the obligation. See Michigan Laws 440.9102 Continuation statement: means an amendment of a financing statement which identifies, by its file number, the initial financing statement to which it relates and indicates that it is a continuation statement for, or that it is filed to continue the effectiveness of, the identified financing statement. See Michigan Laws 440.9102 Contract: A legal written agreement that becomes binding when signed. Conviction: A judgement of guilt against a criminal 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. County: means a county within this state. See Michigan Laws 125.1411 Creditor: includes a general creditor, a secured creditor, a lien creditor, and any representative of creditors, including an assignee for the benefit of creditors, a trustee in bankruptcy, a receiver in equity, and an executor or administrator of an insolvent debtor's or assignor's estate. See Michigan Laws 440.1201 Crime: means an act that is 1 of the following:
(i) A crime under the laws of this state, the United States, or a federally recognized tribe in this state, that causes actual bodily harm, including pregnancy or death, or that poses a reasonably perceived or actual threat of injury or death within this state. See Michigan Laws 18.351Critical infrastructure: means systems and assets, whether physical or virtual, so vital to the United States or this state that the incapacity or destruction of that system or asset would have a debilitating impact on security, economic security, public health or safety, or any combination of these as determined by the department. See Michigan Laws 18.222 Cybersecurity incident: means an event occurring on or conducted through a computer network that actually or imminently jeopardizes the integrity, confidentiality, or availability of computers, information or communications systems or networks, physical or virtual infrastructure controlled by computers or information systems, or information resident on any of these. See Michigan Laws 18.222 Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries. Dating relationship: means frequent, intimate associations primarily characterized by the expectation of affectional involvement. See Michigan Laws 18.351 Debtor: means 1 of the following:
(i) A person having an interest, other than a security interest or other lien, in the collateral, whether or not the person is an obligor. See Michigan Laws 440.9102Deed: The legal instrument used to transfer title in real property from one person to another. Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime. Deferred payment loan: means a loan that is repayable or partially repayable upon the occurrence of a specified event as determined by the authority. See Michigan Laws 125.1411 Department: means the department of technology, management, and budget. See Michigan Laws 18.222 Department: means the state transportation department, bureau of aeronautics. See Michigan Laws 259.3 Department: means the department of licensing and regulatory affairs. See Michigan Laws 333.6230 Department: means the director of the department of natural resources or his or her designee to whom the director delegates a power or duty by written instrument. See Michigan Laws 324.301 Dependent: A person dependent for support upon another. Dependent: means an individual principally dependent on another for support. See Michigan Laws 18.351 Deposit account: means a demand, time, savings, passbook, or similar account maintained with a bank. See Michigan Laws 440.9102 Development costs: means the costs that have been approved by the authority as appropriate expenditures, and includes:
(i) Payments for options to purchase properties on the proposed housing project site, deposits on contracts of purchase, or, with the prior approval of the authority, payments for the purchases of those properties. See Michigan Laws 125.1411Director: means the director of the office of Hispanic/Latino affairs. See Michigan Laws 18.301 Director: means the deputy director of the department, bureau of aeronautics who is the director of the Michigan aeronautics commission. See Michigan Laws 259.3 Director: means the director of the department or his or her designee. See Michigan Laws 333.6230 Director: means the director of the department of natural resources. See Michigan Laws 324.301 Dismissal: The dropping of a case by the judge without further consideration or hearing. Source: Elderly: means a single person who is 55 years of age or older or a household in which at least 1 member is 55 years of age or older and all other members are 50 years of age or older. See Michigan Laws 125.1411 Eligible distressed area: means any of the following:
(i) An area located in a city with a population of at least 10,000, which area is either designated as a "blighted area" by a local legislative body pursuant to 1945 PA 344, MCL 125. See Michigan Laws 125.1411Entitlement: A Federal program or provision of law that requires payments to any person or unit of government that meets the eligibility criteria established by law. Entitlements constitute a binding obligation on the part of the Federal Government, and eligible recipients have legal recourse if the obligation is not fulfilled. Social Security and veterans' compensation and pensions are examples of entitlement programs. Equipment: means goods other than inventory, farm products, or consumer goods. See Michigan Laws 440.9102 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 Escrow: Money given to a third party to be held for payment until certain conditions are met. 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. Ex officio: Literally, by virtue of one's office. Executor: A male person named in a will to carry out the decedent 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. Family income: means all income that is included in a determination of family income under section 143(f) of the internal revenue code, 26 USC 143(f), together with the income of all adults who will reside in the residence, which income might otherwise be excluded from consideration because the individual was not expected to both live in the residence and be primarily or secondarily liable on the mortgage note. See Michigan Laws 125.1411 Fiduciary: A trustee, executor, or administrator. File number: means the number assigned to an initial financing statement pursuant to section 9519(1). See Michigan Laws 440.9102 Filing office: means an office designated in section 9501 as the place to file a financing statement. See Michigan Laws 440.9102 Filing-office rule: means a rule adopted pursuant to section 9526. See Michigan Laws 440.9102 Financing statement: means a record or records composed of an initial financing statement and any filed record relating to the initial financing statement. See Michigan Laws 440.9102 firearm: except as otherwise specifically defined in statute, includes any weapon which will, is designed to, or may readily be converted to expel a projectile by action of an explosive. See Michigan Laws 8.3t 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. Fixture filing: means the filing of a financing statement covering goods that are or are to become fixtures and satisfying section 9502(1) and (2). See Michigan Laws 440.9102 Fixtures: means goods that have become so related to particular real property that an interest in them arises under real property law. See Michigan Laws 440.9102 Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC Forgery: The fraudulent signing or alteration of another's name to an instrument such as a deed, mortgage, or check. The intent of the forgery is to deceive or defraud. Source: OCC 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 Fuel: means any gasoline, distillate, benzine, naphtha, benzol, or other volatile and inflammable liquid produced, compounded, and used for propelling aircraft. See Michigan Laws 259.4 Fund: means the housing development fund created by this act. See Michigan Laws 125.1411 Game: has the meaning given that term in part 401. See Michigan Laws 324.43504 Game and fish protection account: means the game and fish protection account of the Michigan conservation and recreation legacy fund provided for in section 2010. See Michigan Laws 324.43701 Game and fish protection account: means the game and fish protection account of the Michigan conservation and recreation legacy fund provided for in section 2010. See Michigan Laws 324.43504 Garnishment: Generally, garnishment is a court proceeding in which a creditor asks a court to order a third party who owes money to the debtor or otherwise holds assets belonging to the debtor to turn over to the creditor any of the debtor Gas: means a mixture of hydrocarbons and nonhydrocarbons in a gaseous state which may or may not be associated with oil and includes liquids resulting from the condensation of those hydrocarbons and nonhydrocarbons. See Michigan Laws 324.43701 Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value. 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 all things that are movable when a security interest attaches. See Michigan Laws 440.9102 Governing body: means in the case of a city, the council or commission of the city; in the case of a village, the council, commission, or board of trustees of the village; in the case of a township, the township board; and in the case of a county, the county board of commissioners. See Michigan Laws 125.1411 Governmental unit: means a subdivision, agency, department, county, parish, municipality, or other unit of the government of the United States, a state, or a foreign country. See Michigan Laws 440.9102 grantee: may be construed as including every person to whom any such interest or estate passes in like manner. See Michigan Laws 8.3e Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs. 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 440.1201Housing development: means a development that contains a significant element of housing for persons of low or moderate income and elements of other housing and commercial, recreational, industrial, communal, and educational facilities that the authority determines improve the quality of the development as it relates to housing for persons of low or moderate income. See Michigan Laws 125.1411 Housing project: means any of the following:
(i) Residential real property developed or to be developed or receiving benefits under this act. See Michigan Laws 125.1411Housing unit: means living accommodations that are intended for occupancy by up to 4 families, with a separate dwelling unit for each family, that may be site constructed or may be a mobile home or other form of manufactured housing, and with respect to which either of the following applies:
(i) The owner of the housing occupies at least 1 of the dwelling units. See Michigan Laws 125.1411in writing: shall be construed to include printing, engraving, and lithographing; except that if the written signature of a person is required by law, the signature shall be the proper handwriting of the person or, if the person is unable to write, the person's proper mark, which may be, unless otherwise expressly prohibited by law, a clear and classifiable fingerprint of the person made with ink or another substance. See Michigan Laws 8.3q 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 Indictment: The formal charge issued by a grand jury stating that there is enough evidence that the defendant committed the crime to justify having a trial; it is used primarily for felonies. Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury. Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC Internal revenue code: means the United States internal revenue code of 1986. See Michigan Laws 125.1411 Intervenor: means a person who goes to the aid of one who has become a victim of a crime and who suffers personal injury. See Michigan Laws 18.351 Irrevocable trust: A trust arrangement that cannot be revoked, rescinded, or repealed by the grantor. Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases. Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC Legacy: A gift of property made by will. Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity. Lien: A claim against real or personal property in satisfaction of a debt. Lien creditor: means 1 or more of the following:
(i) A creditor that has acquired a lien on the property involved by attachment, levy, or the like. See Michigan Laws 440.9102Limited dividend housing corporation: means a corporation incorporated or qualified pursuant to the corporation laws of this state and chapter 6 and a limited dividend housing association organized and qualified pursuant to chapter 7. See Michigan Laws 125.1411 Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants. Low income or moderate income persons: means families and persons who cannot afford to pay the amounts at which private enterprise, without federally-aided mortgages or loans from the authority, is providing a substantial supply of decent, safe, and sanitary housing and who fall within income limitations set in this act or by the authority in its rules. See Michigan Laws 125.1411 Majority leader: see Floor Leaders Manufacturer: means a person that prepares, produces, derives, propagates, compounds, processes, packages, or repackages a drug or device salable on prescription only, or otherwise changes the container or the labeling of a drug or device salable on prescription only, and that supplies, distributes, sells, offers for sale, barters, or otherwise disposes of that drug or device and any other drug or device salable on prescription only, to another person for resale, compounding, or dispensing. See Michigan Laws 333.17706 Michigan cyber civilian corps: means the program established by this act under which civilian volunteers who have expertise in addressing cybersecurity incidents may volunteer at the invitation of the department to provide rapid response assistance to a municipal, educational, nonprofit, or critical infrastructure organization in need of expert assistance during a cybersecurity incident. See Michigan Laws 18.222 Michigan cyber civilian corps volunteer: means an individual who has entered into a volunteer agreement with the department to serve as a deployable volunteer in the Michigan cyber civilian corps. See Michigan Laws 18.222 Michigan national guard: means the army national guard and the air national guard. See Michigan Laws 32.505 Military: means a reference to all components of the state military establishment. See Michigan Laws 32.505 Military establishment: means the organized militia of this state, including the employees and equipment assigned or necessary to carry out the provisions of this act. See Michigan Laws 32.505 Mineral: means an inorganic substance that can be extracted from the earth, except for oil or gas, and includes rock, metal ores, and mineral water. See Michigan Laws 324.43701 Mobile home: means a structure, transportable in 1 or more sections, that is built on a chassis and is designed to be used as a dwelling with or without permanent foundation, when connected to the required utilities, and includes the plumbing, heating, air conditioning, and electrical systems contained in the structure. See Michigan Laws 125.1411 Mobile home condominium project: means a condominium project in which mobile homes are intended to be located upon separate sites that constitute individual condominium units and that complies with the condominium act, 1978 PA 59, MCL 559. See Michigan Laws 125.1411 Mobile home park: means a parcel or tract of land under the control of a person or entity upon which 3 or more mobile homes are located on a continual, nonrecreational, residential basis and that is offered to the public for general public use for continual, nonrecreational, residential purposes regardless of whether a charge is made for that use, together with any social, recreational, commercial, and communal facilities used or intended for use incident to the occupancy of a mobile home. See Michigan Laws 125.1411 Mobile home park association: means a mobile home park association organized and qualified in accordance with chapter 9. See Michigan Laws 125.1411 Mobile home park corporation: means a corporation incorporated pursuant to the corporation laws of this state and qualified in accordance with chapter 8. See Michigan Laws 125.1411 Moderate cost residential rental property: means dwelling units for which the rental payments are equal to or less than that established from time to time as the fair market rents for existing housing in accordance with 1 of the following:
(i) The section 8 leased housing program established under section 8 of the United States housing act of 1937, 42 USC 1437f, and the regulations promulgated under that act, or a substantially equivalent successor federal program. See Michigan Laws 125.1411Money: means a medium of exchange authorized or adopted by a domestic or foreign government. See Michigan Laws 440.1201 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 Mortgage: The written agreement pledging property to a creditor as collateral for a loan. Mortgage: means a consensual interest in real property, including fixtures, which secures payment or performance of an obligation. See Michigan Laws 440.9102 Mortgage lender: means a state or national bank, state or federal savings and loan association, mortgage company, insurance company, state pension fund, or any other financial institution, intermediary, or entity authorized to make mortgage loans in this state. See Michigan Laws 125.1411 Mortgage loan: A loan made by a lender to a borrower for the financing of real property. Source: OCC Mortgagee: The person to whom property is mortgaged and who has loaned the money. Mortgagor: The person who pledges property to a creditor as collateral for a loan and who receives the money. Municipality: means a city, village, or township in this state. See Michigan Laws 125.1411 National Bank: A bank that is subject to the supervision of the Comptroller of the Currency. The Office of the Comptroller of the Currency is a bureau of the U.S. Treasury Department. A national bank can be recognized because it must have "national" or "national association" in its name. Source: OCC 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. Noncash proceeds: means proceeds other than cash proceeds. See Michigan Laws 440.9102 Nonprofit housing corporation: means a nonprofit corporation incorporated under the corporation laws of this state and chapter 4. See Michigan Laws 125.1411 Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period. Obligor: means a person that, with respect to an obligation secured by a security interest in or an agricultural lien on the collateral, owes payment or other performance of the obligation, has provided property other than the collateral to secure payment or other performance of the obligation, or is otherwise accountable in whole or in part for payment or other performance of the obligation. See Michigan Laws 440.9102 Office: means the office of Hispanic/Latino affairs as created in section 4. See Michigan Laws 18.301 Officer: means a commissioned officer and a warrant officer, unless a distinction between commissioned officer and warrant officer is clearly evident. See Michigan Laws 32.505 Oil: means natural crude oil or petroleum and other hydrocarbons, regardless of gravity, which are produced at the well in liquid form by ordinary production methods and which are not the result of condensation of gas after it leaves the underground reservoir. See Michigan Laws 324.43701 Organization: means a person other than an individual. See Michigan Laws 440.1201 Oversight: Committee review of the activities of a Federal agency or program. 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, partnership, corporation, association, governmental entity, or other legal entity. See Michigan Laws 324.301 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 person: may extend and be applied to bodies politic and corporate, as well as to individuals. See Michigan Laws 8.3l Personal injury: means either of the following injuries:
(i) Actual bodily harm, including pregnancy or death. See Michigan Laws 18.351Personal property: All property that is not real property. 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. Presentence report: A report prepared by a court's probation officer, after a person has been convicted of an offense, summarizing for the court the background information needed to determine the appropriate sentence. Source: U.S. Courts Probable cause: A reasonable ground for belief that the offender violated a specific law. Probate: Proving a will Probation: A sentencing alternative to imprisonment in which the court releases convicted defendants under supervision as long as certain conditions are observed. Proceeds: means , except as used in section 9609(2), 1 or more of the following property:
(i) Whatever is acquired upon the sale, lease, license, exchange, or other disposition of collateral. See Michigan Laws 440.9102Project cost: means the sum total of all reasonable or necessary costs incurred by the nonprofit housing corporation, consumer housing cooperative, limited dividend housing corporation, mobile home park corporation, or mobile home park association for carrying out all works and undertakings for the completion of a housing project and approved by the authority. See Michigan Laws 125.1411 project costs: includes costs for all of the following: studies and surveys; plans, specifications, and architectural and engineering services; legal, organization, marketing, or other special services; financing, acquisition, demolition, construction, equipment, and site development of new and rehabilitated buildings; movement of existing buildings to other sites; rehabilitation, reconstruction, repair, or remodeling of existing buildings; carrying charges during construction; the cost of placement of tenants or occupants, and relocation services in connection with a housing project; and, to the extent not already included, all development costs. See Michigan Laws 125.1411 Proposal: means a record authenticated by a secured party which includes the terms on which the secured party is willing to accept collateral in full or partial satisfaction of the obligation it secures pursuant to sections 9620, 9621, and 9622. See Michigan Laws 440.9102 Public law: A public bill or joint resolution that has passed both chambers and been enacted into law. Public laws have general applicability nationwide. 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 Qualified airport: means that term as defined in section 109. See Michigan Laws 259.7 Quorum: The number of legislators that must be present to do business. Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land. 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 Recourse: An arrangement in which a bank retains, in form or in substance, any credit risk directly or indirectly associated with an asset it has sold (in accordance with generally accepted accounting principles) that exceeds a pro rata share of the bank's claim on the asset. If a bank has no claim on an asset it has sold, then the retention of any credit risk is recourse. Source: FDIC Rehabilitation: means all or part of those repairs and improvements necessary to make residential real property safe, sanitary, or adequate. See Michigan Laws 125.1411 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. Representative: means a person empowered to act for another, including an agent, an officer of a corporation or association, and a trustee, executor, or administrator of an estate. See Michigan Laws 440.1201 Residential real property: means real property located in this state, used for residential purposes, and improved or to be improved by a residential structure. See Michigan Laws 125.1411 Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action. Right: includes remedy. See Michigan Laws 440.1201 Rule: means a rule promulgated pursuant to the administrative procedures act of 1969, 1969 PA 306, MCL 24. See Michigan Laws 324.301 seal: shall be construed to include any of the following:
(a) The impression of the seal on the paper alone. See Michigan Laws 8.3nSecondary obligor: means an obligor to the extent that the obligor's obligation is secondary or the obligor has a right of recourse with respect to an obligation secured by collateral against the debtor, another obligor, or property of either. See Michigan Laws 440.9102 Secured party: means 1 or more of the following:
(i) A person in whose favor a security interest is created or provided for under a security agreement, whether or not any obligation to be secured is outstanding. See Michigan Laws 440.9102Security agreement: means an agreement that creates or provides for a security interest. See Michigan Laws 440.9102 Security interest: means an interest in personal property or fixtures which secures payment or performance of an obligation. See Michigan Laws 440.1201 shall not apply: means that the pertinent provision is not operative as to certain persons or things or in conjunction with a particular date or dates. See Michigan Laws 8.4c Special duty: means military service in support of the full-time operation of the state military establishment for a period of not less than 1 day if ordered by competent authority. See Michigan Laws 32.505 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 440.9102 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 Statewide median gross income: means the statewide median gross income as determined under section 143(f) of the internal revenue code, 26 USC 143(f). See Michigan Laws 125.1411 Statute: A law passed by a legislature. Subpoena: A command to a witness to appear and give testimony. Subsidiary nonprofit housing corporation: means an entity created under section 22c. See Michigan Laws 125.1411 Substance use disorder services: means substance use disorder prevention services or substance use disorder treatment and rehabilitation services, or both, as those terms are defined in section 100d of the mental health code, 1974 PA 258, MCL 330. See Michigan Laws 333.6230 Support: means actual monetary payments made by a victim or intervenor to or for a person principally dependent on the victim or intervenor. See Michigan Laws 18.351 Taxing jurisdiction: means a municipality, county, or district, including a school district or any special district having the power to levy or collect taxes upon real property or in whose behalf taxes may be levied or collected. See Michigan Laws 125.1411 Term: means a portion of an agreement that relates to a particular matter. See Michigan Laws 440.1201 Termination statement: means an amendment of a financing statement that identifies, by its file number, the initial financing statement to which it relates and indicates either that it is a termination statement or that the identified financing statement is no longer effective. See Michigan Laws 440.9102 Testimony: Evidence presented orally by witnesses during trials or before grand juries. this amendatory act: means the amendatory act that added this part. See Michigan Laws 440.9701 Tort: A civil wrong or breach of a duty to another person, as outlined by law. A very common tort is negligent operation of a motor vehicle that results in property damage and personal injury in an automobile accident. Transcript: A written, word-for-word record of what was said, either in a proceeding such as a trial or during some other conversation, as in a transcript of a hearing or oral deposition. Transmitting utility: means a person primarily engaged in the business of 1 of the following:
(i) Operating a railroad, subway, street railway, or trolley bus. See Michigan Laws 440.9102Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence. Trust account: A general term that covers all types of accounts in a trust department, such as estates, guardianships, and agencies. Source: OCC Trust fund: means the Michigan game and fish protection trust fund established in section 41 of article IX of the state constitution of 1963 and provided for in section 43702. See Michigan Laws 324.43701 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 United States: shall be construed to include the district and territories. See Michigan Laws 8.3o Variable Rate: Having a "variable" rate means that the APR changes from time to time based on fluctuations in an external rate, normally the Prime Rate. This external rate is known as the "index." If the index changes, the variable rate normally changes. Also see Fixed Rate. Venue: The geographical location in which a case is tried. Veto: The procedure established under the Constitution by which the President/Governor refuses to approve a bill or joint resolution and thus prevents its enactment into law. A regular veto occurs when the President/Governor returns the legislation to the house in which it originated. The President/Governor usually returns a vetoed bill with a message indicating his reasons for rejecting the measure. In Congress, the veto can be overridden only by a two-thirds vote in both the Senate and the House. Victim: means a person who suffers a personal injury as a direct result of a crime. See Michigan Laws 18.351 Victim advocate: work with prosecutors and assist the victims of a crime. Volunteer agreement: means the contract entered into between the department and a Michigan cyber civilian corps volunteer or advisor under section 4. See Michigan Laws 18.222 Wildlife and fisheries: includes any member of the wild animal kingdom, including any mammal, bird, fish, reptile, amphibian, or invertebrate found in this state at any point in its natural life cycle. See Michigan Laws 324.43504 writing: includes printing, typewriting, or any other intentional reduction to tangible form. See Michigan Laws 440.1201