Michigan Laws > Chapter 418 > Act 317 of 1969 > Chapter 6 – Security for Compensation
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Terms Used In Michigan Laws > Chapter 418 > Act 317 of 1969 > Chapter 6 - Security for Compensation
- ACH: means a national and governmental organization that has authority to process electronic payments, including, but not limited to, the national automated clearing house association and the federal reserve system. See Michigan Laws 124.301
- ACH arrangement: means the agreement between the originator of the ACH transaction and the receiver of the ACH transaction. See Michigan Laws 124.301
- ACH policy: means the procedures and internal controls as determined under a written policy developed and adopted by the treasurer or the electronic transactions officer of a local unit under section 3. See Michigan Laws 124.301
- ACH transaction: means an electronic payment, debit, or credit transfer processed through an automated clearing house. See Michigan Laws 124.301
- Adjourn: A motion to adjourn a legislative chamber or a committee, if passed, ends that day's session.
- Aggrieved party: means a party entitled to resort to a remedy. See Michigan Laws 440.1201
- 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.
- annual meeting: when applied to townships, mean the annual meeting required by law to be held on the Saturday immediately preceding the first Monday in April. See Michigan Laws 8.3d
- 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.
- Appellate: About appeals; an appellate court has the power to review the judgement of another lower court or tribunal.
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Authority: means a public transportation authority formed under this act. See Michigan Laws 124.351
- Bank: means a person engaged in the business of banking and includes a savings bank, savings and loan association, credit union, and trust company. See Michigan Laws 440.1201
- Board: means the governing body of an authority. See Michigan Laws 124.351
- Buyer: means a person who buys or contracts to buy goods. See Michigan Laws 440.2103
- Carrier: means a self-insurer or an insurer. See Michigan Laws 418.601
- Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
- constituent municipalities: includes all of the municipalities that signed or became signatories of articles of incorporation of any authority incorporated under this act. See Michigan Laws 124.281
- Contract: A legal written agreement that becomes binding when signed.
- 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
- 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.
- 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
- Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
- Delivery: means either of the following:
(i) With respect to an electronic document of title, a voluntary transfer of control. See Michigan Laws 440.1201Devise: To gift property by will. director: means the director of the bureau or his or her duly authorized representative. See Michigan Laws 418.201 Disability: means a limitation of an employee's wage earning capacity in work suitable to his or her qualifications and training resulting from a personal injury or work-related disease. See Michigan Laws 418.301 employee: means :
(a) A person in the service of the state, a county, city, township, village, or school district, under any appointment, or contract of hire, express or implied, oral or written. See Michigan Laws 418.161Equitable: 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 ETO: means the person designated under this act by charter or by the governing body in a local unit other than a township or county. See Michigan Laws 124.301 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. Federal Reserve System: The central bank of the United States. The Fed, as it is commonly called, regulates the U.S. monetary and financial system. The Federal Reserve System is composed of a central governmental agency in Washington, D.C. (the Board of Governors) and twelve regional Federal Reserve Banks in major cities throughout the United States. Source: OCC Fiduciary: A trustee, executor, or administrator. Fungible goods: means either of the following:
(i) Goods of which any unit, by nature or usage of trade, is the equivalent of any other like unit. See Michigan Laws 440.1201Gift: 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 Governing body: means any of the following:
(i) The council, commission, or other entity vested with the legislative power of a city or village. See Michigan Laws 124.301in 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 Indian tribe: means an Indian tribe, band, nation, or other organized group or community of Indians that is recognized as eligible for services by the United States secretary of the interior because of their status as Indians. See Michigan Laws 124.281 Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury. Insurer: means an organization that transacts the business of worker's compensation insurance within this state. See Michigan Laws 418.601 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 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. Local school district: means a school district organized under the revised school code, 1976 PA 451, MCL 380. See Michigan Laws 124.301 Local unit: means any of the following:
(i) A village. See Michigan Laws 124.301Money: means a medium of exchange authorized or adopted by a domestic or foreign government. See Michigan Laws 440.1201 Mortgage: The written agreement pledging property to a creditor as collateral for a loan. Municipality: means a county, township, city, or village. See Michigan Laws 124.281 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. Oral argument: An opportunity for lawyers to summarize their position before the court and also to answer the judges' questions. 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 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 present sale: means a sale which is accomplished by the making of the contract. See Michigan Laws 440.2106 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 Remand: When an appellate court sends a case back to a lower court for further proceedings. Remedy: means any remedial right to which an aggrieved party is entitled with or without resort to a tribunal. See Michigan Laws 440.1201 Right: includes remedy. See Michigan Laws 440.1201 seal: shall be construed to include any of the following:
(a) The impression of the seal on the paper alone. See Michigan Laws 8.3nSecurity interest: means an interest in personal property or fixtures which secures payment or performance of an obligation. See Michigan Laws 440.1201 Self-insurer: means either of the following:
(i) An individual employer authorized to carry its own risk. See Michigan Laws 418.601Seller: means a person who sells or contracts to sell goods. See Michigan Laws 440.2103 Service area: means that area in which a public authority incorporated under this act operates a mass transportation system or causes a mass transportation system to operate. See Michigan Laws 124.351 Sewage disposal system: includes all interceptor sewers, storm sewers, sanitary sewers, combined sanitary and storm sewers, sewage treatment plants, and all other plants, works, instrumentalities, and properties used or useful in connection with the collection, treatment, or disposal of sewage or industrial wastes. See Michigan Laws 124.281 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 Signed: includes any symbol executed or adopted by a party with present intention to adopt or accept a writing. See Michigan Laws 440.1201 Solid waste management system: includes all plants, works, instrumentalities, and properties used or useful in connection with the collection, transportation, processing, or disposal of discarded or waste materials of any sort, including access roads and facilities for resource recovery. See Michigan Laws 124.281 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 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 Statute: A law passed by a legislature. Term: means a portion of an agreement that relates to a particular matter. See Michigan Laws 440.1201 Testimony: Evidence presented orally by witnesses during trials or before grand juries. third party: means a person that has engaged in a transaction or made an agreement subject to this act. See Michigan Laws 440.1201 Treasurer: means the elected treasurer in a township or county. See Michigan Laws 124.301 Trustee: A person or institution holding and administering property in trust. United States: shall be construed to include the district and territories. See Michigan Laws 8.3o Water supply system: includes all plants, works, instrumentalities, and properties used or useful in connection with obtaining a water supply, the treatment of water, or the distribution of water. See Michigan Laws 124.281 writing: includes printing, typewriting, or any other intentional reduction to tangible form. See Michigan Laws 440.1201