Michigan Laws > Chapter 500 > Act 218 of 1956 > Chapter 5 – Privacy of Financial Information
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Terms Used In Michigan Laws > Chapter 500 > Act 218 of 1956 > Chapter 5 - Privacy of Financial Information
- Actual notice: includes the physical presentation of an order, a revocation of an order, or another written document authorized under this act from or on behalf of a declarant. See Michigan Laws 333.1052
- Advanced illness: means a medical or surgical condition with significant functional impairment that is not reversible by curative therapies and that is anticipated to progress toward death despite attempts at curative therapies or modulation. See Michigan Laws 333.1052
- 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.
- 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.
- Affiliate: means any company that controls, is controlled by, or is under common control with another company. See Michigan Laws 500.503
- Aircraft: means that term as defined in section 2 of the aeronautics code of the state of Michigan, 1945 PA 327, MCL 259. See Michigan Laws 777.1
- 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 notice: means the privacy notice required in section 513. See Michigan Laws 500.503
- 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.
- 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.
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Attending physician: means the physician who has primary responsibility for the treatment and care of a declarant. See Michigan Laws 333.1052
- 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
- Board of trustees: means the board of trustees of a corporation created under or governed by this act. See Michigan Laws 331.1103
- Caucus: From the Algonquian Indian language, a caucus meant "to meet together." An informal organization of members of the legislature that exists to discuss issues of mutual concern and possibly to perform legislative research and policy planning for its members. There are regional, political or ideological, ethnic, and economic-based caucuses.
- City: means a city establishing a corporation incorporated under, or governed by, this act. See Michigan Laws 331.1103
- City public hospital: means a health care facility that is owned or operated by a city. See Michigan Laws 331.1103
- Clear and conspicuous: means that a notice is reasonably understandable and designed to call attention to the nature and significance of the information in the notice. See Michigan Laws 500.503
- commission: means a financial review commission created in section 4. See Michigan Laws 141.1633
- Commissioner: means the director. See Michigan Laws 500.102
- Company: means any corporation, limited liability company, business trust, general or limited partnership, association, sole proprietorship, or similar organization. See Michigan Laws 500.503
- Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
- Complaint: means a written accusation, under oath or upon affirmation, that a felony, misdemeanor, or ordinance violation has been committed and that the person named or described in the accusation is guilty of the offense. See Michigan Laws 761.1
- Consumer: includes , but is not limited to, all of the following:
(A) An individual who provides nonpublic personal information to a licensee in connection with obtaining or seeking to obtain financial, investment, or economic advisory services relating to an insurance product or service. See Michigan Laws 500.503Contract: 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. Corporation: means a municipal health facilities corporation incorporated under this act or created under 1913 PA 350, MCL 331. See Michigan Laws 331.1103 Corporation obligation: means a bond, note, or any other legal instrument issued by a corporation or subsidiary corporation under chapter 4 that evidences indebtedness of a corporation or a subsidiary corporation, including principal, interest, and premiums, if any, on that indebtedness. See Michigan Laws 331.1103 County: means a county establishing a corporation incorporated under, or governed by, this act. See Michigan Laws 331.1103 County public hospital: means a public corporation organized and existing or purportedly organized and existing under1913 PA 350, MCL 331. See Michigan Laws 331.1103 Customer: means a consumer who has a customer relationship with a licensee. See Michigan Laws 500.503 Customer relationship: means a continuing relationship between a consumer and a licensee under which the licensee provides 1 or more insurance products or services to the consumer that are to be used primarily for personal, family, or household purposes. See Michigan Laws 500.503 Declarant: means an individual who has executed a do-not-resuscitate order on his or her own behalf or on whose behalf a do-not-resuscitate order has been executed as provided in this act. See Michigan Laws 333.1052 Deed: The legal instrument used to transfer title in real property from one person to another. Delegatee: means an individual to whom a physician has delegated the authority to perform 1 or more selected acts, tasks, or functions under section 16215 of the public health code, MCL 333. See Michigan Laws 333.1052 Dependent: A person dependent for support upon another. Devise: To gift property by will. Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial. Embezzlement: In most states, embezzlement is defined as theft/larceny of assets (money or property) by a person in a position of trust or responsibility over those assets. Embezzlement typically occurs in the employment and corporate settings. Source: OCC 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 Credit Reporting Act: A federal law, established in 1971 and revised in 1997, that gives consumers the right to see their credit records and correct any mistakes. Source: OCC Felony: means a violation of a penal law of this state for which the offender, upon conviction, may be punished by imprisonment for more than 1 year or an offense expressly designated by law to be a felony. See Michigan Laws 761.1 Fiduciary: A trustee, executor, or administrator. 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. Forbearance: A means of handling a delinquent loan. A 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 Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value. Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. Source: OCC 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. Guardian: means that term as defined in section 1104 of the estates and protected individuals code, 1998 PA 386, MCL 700. See Michigan Laws 333.1052 Health care facilities: means buildings, structures, or equipment suitable and intended for, or incidental or ancillary to, use in providing health services, including, but not limited to, hospitals; hospital long-term care units; infirmaries; sanatoria; nursing homes; medical care facilities; outpatient clinics; ambulatory care facilities; surgical and diagnostic facilities; hospices; clinical laboratories; shared service facilities; laundries; meeting rooms; classrooms and other educational facilities; students', nurses', interns', or physicians' residences; administration buildings; facilities for use as or by health maintenance organizations; facilities for ambulance operations, advanced mobile emergency care services, and limited advanced mobile emergency care services; research facilities; facilities for the care of dependent children; maintenance, storage, and utility facilities; parking lots and structures; garages; office facilities not less than 80% of the net leasable space of which is intended for lease to or other use by direct providers of health care; facilities for the temporary lodging of outpatients or families of patients; residential facilities for use by the aged or disabled; and all necessary, useful, or related equipment, furnishings, and appurtenances and all lands necessary or convenient as sites for the health care facilities described in this subdivision. See Michigan Laws 331.1103 Health services: means 1 or more of the following:
(i) Diagnosis and medical and surgical treatment by direct providers of health care of persons suffering from illness, injury, and disability, including persons suffering from tuberculosis and other contagious and infectious diseases, and persons requiring maternity care, rehabilitation, psychiatric care, or substance abuse services; dentistry and related services; podiatric medicine and surgery; optometric services; psychological services; skilled, basic, and visiting nursing services and home health services; ambulance operations; advanced mobile emergency care services and limited advanced emergency services; physical, respiratory, and occupational therapy; health maintenance services; services for the prevention of illness, injury, and disability and for the promotion, maintenance, and improvement of public health and welfare; food services and care for dependent children, the disabled, and the elderly; and social work and chaplaincy services provided in conjunction with other health services described in this subparagraph. See Michigan Laws 331.1103Homicide: means any crime in which the death of a human being is an element of that crime. See Michigan Laws 777.1 Hospital: means that term as defined in section 20106 of the public health code, MCL 333. See Michigan Laws 333.1052 identification bracelet: means a wrist bracelet that meets the requirements of section 7 and that is worn by a declarant while a do-not-resuscitate order is in effect. See Michigan Laws 333.1052 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 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 Initial notice: means the privacy notice required in section 507. See Michigan Laws 500.503 Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury. Insurance product or service: means any product or service that is offered by a licensee pursuant to the insurance laws of this state or pursuant to a federal insurance program. See Michigan Laws 500.503 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 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 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. Juror: A person who is on the jury. Juvenile: means a person within the jurisdiction of the circuit court under section 606 of the revised judicature act of 1961, 1961 PA 236, MCL 600. See Michigan Laws 761.1 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. Licensee: means a licensed insurer or producer, and other persons licensed or required to be licensed, authorized or required to be authorized, registered or required to be registered, or holding or required to hold a certificate of authority under this act. See Michigan Laws 500.503 Lien: A claim against real or personal property in satisfaction of a debt. Local governmental unit: means a county, city, or village. See Michigan Laws 331.1103 Minor child: means an individual who is less than 18 years of age, has been diagnosed by an attending physician as having an advanced illness, and is not emancipated by operation of law as provided in section 4 of 1968 PA 293, MCL 722. See Michigan Laws 333.1052 Misdemeanor: means a violation of a penal law of this state that is not a felony or a violation of an order, rule, or regulation of a state agency that is punishable by imprisonment or a fine that is not a civil fine. See Michigan Laws 761.1 Mortgage: The written agreement pledging property to a creditor as collateral for a loan. Mortgagor: The person who pledges property to a creditor as collateral for a loan and who receives the money. National Credit Union Administration: The federal regulatory agency that charters and supervises federal credit unions. (NCUA also administers the National Credit Union Share Insurance Fund, which insures the deposits of federal credit unions.) 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. Nonaffiliated third party: means any person except a licensee's affiliate or a person employed jointly by a licensee and any company that is not the licensee's affiliate. See Michigan Laws 500.503 Nonprofit health care organization: means a public body organized and existing under the laws of this state and authorized to provide health services, a nonprofit corporation incorporated under the nonprofit corporation act, 1982 PA 162, MCL 450. See Michigan Laws 331.1103 Nonpublic personal financial information: means personally identifiable financial information and any list, description, or other grouping of consumers and publicly available information pertaining to them that is derived using any personally identifiable financial information that is not publicly available. See Michigan Laws 500.503 Nurse: means an individual who is licensed or otherwise authorized to engage in the practice of nursing or practice of nursing as a licensed practical nurse under part 172 of the public health code, MCL 333. See Michigan Laws 333.1052 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. Opt out: means a direction by the consumer that the licensee not disclose nonpublic personal financial information about that consumer to a nonaffiliated third party, other than as permitted by sections 535, 537, and 539. See Michigan Laws 500.503 order: means a document executed under this act directing that, if an individual suffers cessation of both spontaneous respiration and circulation in a setting outside of a hospital, resuscitation will not be initiated. See Michigan Laws 333.1052 ORV: means that term as defined in section 81101 of the natural resources and environmental protection act, 1994 PA 451, MCL 324. See Michigan Laws 777.1 Oversight: Committee review of the activities of a Federal agency or program. Parent: means the natural or adoptive parent of a minor child who possesses legal decision-making authority as to the important decisions affecting the welfare of the minor child. See Michigan Laws 333.1052 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. Patient advocate: means an individual who is designated to make medical treatment decisions for a patient under section 5506 to 5515 of the estates and protected individuals code, 1998 PA 386, MCL 700. See Michigan Laws 333.1052 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. Personally identifiable financial information: means any of the following:
(i) Information a consumer provides to a licensee to obtain an insurance product or service from the licensee. See Michigan Laws 500.503Physician: means a person licensed as a physician under part 170 or part 175 of the public health code, Act No. See Michigan Laws 333.1032 Physician: means an individual who is licensed or otherwise authorized to engage in the practice of medicine or the practice of osteopathic medicine and surgery under article 15 of the public health code, MCL 333. See Michigan Laws 333.1052 Plan for adjustment: means the plan for the adjustment of debts of a qualified city approved and entered by a United States bankruptcy court under chapter 9 of title 11 of the United States Code, 11 USC 901 to 946. See Michigan Laws 141.1633 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. Probate: Proving a will Producer: means a person required to be licensed under this act to sell, solicit, or negotiate insurance. See Michigan Laws 500.503 Professional services: means services that require a high degree of intellectual skill, an advanced degree, or professional licensing or certification. See Michigan Laws 141.1633 Project costs: means the total of the reasonable or necessary costs incurred for carrying out the acquisition, construction, repair, remodeling, equipping, or re-equipping of health care facilities. See Michigan Laws 331.1103 Property: includes any matter or thing upon or in respect to which an offense may be committed. See Michigan Laws 761.1 Public health code: means the public health code, 1978 PA 368, MCL 333. See Michigan Laws 333.1052 Public law: A public bill or joint resolution that has passed both chambers and been enacted into law. Public laws have general applicability nationwide. Publicly available information: means any information that a licensee has a reasonable basis to believe is lawfully made available to the general public from federal, state, or local government records by wide distribution by the media or by disclosures to the general public that are required to be made by federal, state, or local law. See Michigan Laws 500.503 Qualified city: means a city with a population of more than 600,000 that is subject to a plan for adjustment. See Michigan Laws 141.1633 Qualified school district: means a school district with the same boundaries as a city with a population of 600,000 or more. See Michigan Laws 141.1633 Quorum: The number of legislators that must be present to do business. Rate: means the cost of insurance per payroll before adjustment for an individual insured's size, exposure, or loss experience. See Michigan Laws 500.2402 Registered nurse: means a person licensed as a registered professional nurse under part 172 of the public health code, Act No. See Michigan Laws 333.1032 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. Rescission: The cancellation of budget authority previously provided by Congress. The Impoundment Control Act of 1974 specifies that the President may propose to Congress that funds be rescinded. If both Houses have not approved a rescission proposal (by passing legislation) within 45 days of continuous session, any funds being withheld must be made available for obligation. Restructured corporation: means a corporation that has completed the process described in section 305a. See Michigan Laws 331.1103 Restructured subsidiary corporation: means a subsidiary corporation that has completed the process described in section 305a. See Michigan Laws 331.1103 resuscitate: means perform cardiopulmonary resuscitation or a component of cardiopulmonary resuscitation, including, but not limited to, any of the following:
(i) Cardiac compression. See Michigan Laws 333.1052Revised notice: means the privacy notice required in section 525. See Michigan Laws 500.503 School: means a nonpublic school or a public school as those terms are defined in section 5 of the revised school code, 1976 PA 451, MCL 380. See Michigan Laws 333.1052 seal: shall be construed to include any of the following:
(a) The impression of the seal on the paper alone. See Michigan Laws 8.3nSettlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims. 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 Snowmobile: means that term as defined in section 82101 of the natural resources and environmental protection act, 1994 PA 451, MCL 324. See Michigan Laws 777.1 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 State treasurer: means the treasurer of this state or his or her designee who shall be designated by a written instrument signed by the state treasurer and maintained in a permanent file and whose signature shall have the same force and effect as the signature of the state treasurer for all purposes under this act. See Michigan Laws 141.1633 Statute: A law passed by a legislature. Subpoena: A command to a witness to appear and give testimony. Subsidiary board: means the board of trustees of a subsidiary corporation. See Michigan Laws 331.1103 Subsidiary corporation: means a subsidiary municipal health facilities corporation incorporated under this act. See Michigan Laws 331.1103 Summons: Another word for subpoena used by the criminal justice system. 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. Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence. Trustee: A person or institution holding and administering property in trust. Trustee: means a person serving on a board of trustees or a subsidiary board. See Michigan Laws 331.1103 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 Vehicle: means that term as defined in section 79 of the Michigan vehicle code, 1949 PA 300, MCL 257. See Michigan Laws 777.1 Vessel: means that term as defined in section 80104 of the natural resources and environmental protection act, 1994 PA 451, MCL 324. See Michigan Laws 777.1 Village: means a village establishing a corporation incorporated under, or governed by, this act. See Michigan Laws 331.1103 Village public hospital: means a health care facility that is owned or operated by a village. See Michigan Laws 331.1103 Ward: means that term as defined in section 1108 of the estates and protected individuals code, 1998 PA 386, MCL 700. See Michigan Laws 333.1052