Terms Used In Michigan Laws > Chapter 390 > Act 68 of 2020 - Michigan Reconnect Grant Recipient 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.
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• 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}
• Commissioner: means the director. See Michigan Laws 500.102
• 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.
• Department: means the department of insurance and financial services. See Michigan Laws 500.102
• Department: means the department of labor and economic opportunity. See Michigan Laws 390.1713
• Director: means , unless the context clearly implies a different meaning, the director of the department. See Michigan Laws 500.102
• Eligible institution: means that term as defined in the Michigan reconnect grant act, 2020 PA 84, MCL 390. See Michigan Laws 390.1713
• 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}
• 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.
• Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
• in 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
• Industry-recognized certificate or credential: means that term as defined in the Michigan reconnect grant act, 2020 PA 84, MCL 390. See Michigan Laws 390.1713
• 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
• 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.
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• Michigan reconnect grant: means a grant awarded under the Michigan reconnect grant program. See Michigan Laws 390.1713
• Michigan reconnect grant program: means the grant program created under section 5 of the Michigan reconnect grant act, 2020 PA 84, MCL 390. See Michigan Laws 390.1713
• Michigan reconnect grant student: means that term as defined in the Michigan reconnect grant act, 2020 PA 84, MCL 390. See Michigan Laws 390.1713
• 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.
• 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}
• Pell-eligible program: means a program eligible for grant funding under 20 USC 1070a. See Michigan Laws 390.1713
• person: may extend and be applied to bodies politic and corporate, as well as to individuals. See Michigan Laws 8.3l
• Personal property: All property that is not real property.
• Qualified occupational training program: means a career training program approved by the department that meets all of the following: