Terms Used In Michigan Laws > Chapter 338 > Act 16 of 2024 - Public Entity Asbestos Removal Disclosure Act

• 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.
• 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.
• Asbestos: means a group of naturally occurring minerals that separate into fibers, including chrysotile, amosite, crocidolite, anthophyllite, tremolite, and actinolite. See Michigan Laws 338.3353
• Asbestos abatement contractor: means a business entity that is licensed under the asbestos abatement contractors licensing act, 1986 PA 135, MCL 338. See Michigan Laws 338.3353
• Asbestos abatement project: means any activity involving persons working directly with the demolition, renovation, or encapsulation of friable asbestos materials. See Michigan Laws 338.3353
• Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.
• 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.
• Insurer: means an individual, corporation, association, partnership, reciprocal exchange, inter-insurer, Lloyds organization, fraternal benefit society, or other legal entity, engaged or attempting to engage in the business of making insurance or surety contracts. See Michigan Laws 500.106
• person: may extend and be applied to bodies politic and corporate, as well as to individuals. See Michigan Laws 8.3l
• Public entity: means this state or an agency or authority of this state, school district, community college district, intermediate school district, city, village, township, county, land bank, public authority, or public airport authority. See Michigan Laws 338.3353
• 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