Michigan Laws > Chapter 600 > Act 236 of 1961 > Chapter 27 – Notice Lis Pendens
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Terms Used In Michigan Laws > Chapter 600 > Act 236 of 1961 > Chapter 27 - Notice Lis Pendens
- Adjusted gross sports betting receipts: means gross sports betting receipts less a deduction for the monetary value of free play wagered by authorized participants as an incentive to place or as a result of their having placed internet sports betting wagers. See Michigan Laws 432.403
- Affiliate: means a person that, directly or indirectly, through 1 or more intermediaries, controls or is controlled by a sports betting operator. See Michigan Laws 432.403
- 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.
- Applicant: means a person that applies for a license or for registration under this act. See Michigan Laws 432.403
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Athletic event: means a sports activity that involves the athletic skill of 1 or more players or participants. See Michigan Laws 432.403
- Authorized participant: means an individual who has a valid internet sports betting account with a sports betting operator and is at least 21 years of age. See Michigan Laws 432.403
- 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.
- 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.
- Board: means the Michigan gaming control board created under section 4 of the Michigan Gaming Control and Revenue Act, 1996 IL 1, MCL 432. See Michigan Laws 432.403
- Casino: means a building or buildings in which gaming is lawfully conducted under the Michigan Gaming Control and Revenue Act, 1996 IL 1, MCL 432. See Michigan Laws 432.403
- Compact: means a tribal-state compact governing the conduct of gaming activities in this state that is negotiated under the Indian gaming regulatory act, Public Law 100-497, 102 Stat 2467. See Michigan Laws 432.403
- Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
- Contract: A legal written agreement that becomes binding when signed.
- 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.
- Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
- Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
- Dower: A widow
- 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.
- Fantasy contest: means a simulated game or contest with an entry fee that meets all of the following conditions:
(i) No fantasy contest team is composed of the entire roster of a real-world sports team. See Michigan Laws 432.403Freedom 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 Fund: means the internet sports betting fund created under section 16. See Michigan Laws 432.403 Gross sports betting receipts: means the total of all sums, including, but not limited to, valid or invalid checks, valid or invalid credit or debit card deposits, valid or invalid ACH deposits, currency, coupons, free play or promotional credits, redeemable credits, vouchers, entry fees assessed for tournaments or other contests, or instruments of monetary value whether collected or uncollected, in each case actually wagered by an authorized participant at or with a sports betting operator on sports betting, less all of the following:
(i) Winnings. See Michigan Laws 432.403in 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 In-game betting: means placing an internet sports betting wager after an athletic event has started. See Michigan Laws 432.403 Indian lands: means that term as defined in 25 USC 2703. See Michigan Laws 432.403 Indian tribe: means that term as defined in 25 USC 2703 and any instrumentality, political subdivision, or other legal entity through which an Indian tribe operates its casino in this state. See Michigan Laws 432.403 Institutional investor: means a person that is any of the following:
(i) A retirement fund administered by a public agency for the exclusive benefit of federal, state, or local public employees. See Michigan Laws 432.403Intangible property: Property that has no intrinsic value, but is merely the evidence of value such as stock certificates, bonds, and promissory notes. Internet: means the international computer network of interoperable packet-switched data networks, inclusive of additional technological platforms, such as mobile, satellite, and other electronic distribution channels. See Michigan Laws 432.403 Internet sports betting: means operating, conducting, or offering for play sports betting through the internet. See Michigan Laws 432.403 Internet sports betting account: means an electronic ledger in which all of the following types of transactions relative to an authorized participant are recorded:
(i) Deposits and credits. See Michigan Laws 432.403Internet sports betting platform: means an integrated system of hardware, software, or applications, including mobile applications and servers, through which a sports betting operator operates, conducts, or offers sports betting through the internet. See Michigan Laws 432.403 Internet sports betting platform provider: means a sports betting supplier that contracts with a sports betting operator to provide an internet sports betting platform. See Michigan Laws 432.403 Internet sports betting wager: means the cash, or cash equivalent, including free play, loyalty points, and other redeemable sports betting credits, risked by an authorized participant on sports betting through the internet. See Michigan Laws 432.403 judgment: as used in this act , includes decree. See Michigan Laws 600.112 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 Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants. Mortgage: The written agreement pledging property to a creditor as collateral for a loan. 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. 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. 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, limited liability company, federally recognized Indian tribe, or other legal entity. See Michigan Laws 432.403 Personal property: All property that is not real property. Plaintiff: The person who files the complaint in a civil lawsuit. Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government. Public law: A public bill or joint resolution that has passed both chambers and been enacted into law. Public laws have general applicability nationwide. Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land. 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 Remand: When an appellate court sends a case back to a lower court for further proceedings. Sports betting: means to operate, conduct, or offer for play wagering conducted under this act on athletic events and other events approved by the board. See Michigan Laws 432.403 Sports betting operator: means a person that is issued a sports betting operator license. See Michigan Laws 432.403 Sports betting operator license: means a license issued by the board to a person to operate, conduct, or offer internet sports betting. See Michigan Laws 432.403 Sports betting supplier: means a person that the board has identified under rules promulgated by the board as requiring a license to provide a sports betting operator goods or services regarding the operation of internet sports betting. See Michigan Laws 432.403 Sports betting supplier license: means a license issued by the board to a sports betting supplier. See Michigan Laws 432.403 Sports betting wagering device: means a mechanical, electrical, or computerized terminal, device, apparatus, or piece of equipment used to place an internet sports betting wager. See Michigan Laws 432.403 Sports governing body: means an organization that prescribes final rules and enforces codes of conduct for an athletic event and the participants in the athletic event. See Michigan Laws 432.403 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 Summons: Another word for subpoena used by the criminal justice system. United States: shall be construed to include the district and territories. See Michigan Laws 8.3o Winnings: means the total cash value of all property or sums including currency or instruments of monetary value paid to an authorized participant by a sports betting operator as a direct result of a winning sports betting wager. See Michigan Laws 432.403