§ 440.9401 Alienability of debtor’s rights
§ 440.9402 Secured party not obligated on contract of debtor or in tort
§ 440.9403 Agreement not to assert defenses against assignee
§ 440.9404 Rights acquired by assignee; claims and defenses against assignee
§ 440.9405 Modification of assigned contract
§ 440.9406 Discharge of account debtor; notification of assignment; identification and proof of assignment; restrictions on assignment of accounts, chattel paper, payment intangibles, and promissory notes ineffe
§ 440.9407 Restrictions on creation or enforcement of security interest in leasehold interest or in lessor’s residual interest
§ 440.9408 Restrictions on assignment of promissory notes, health-care-insurance receivables, and certain general intangibles ineffective
§ 440.9409 Restrictions on assignment of letter-of-credit rights ineffective

Terms Used In Michigan Laws > Chapter 440 > Act 174 of 1962 > Article 9 > Part 4 - Rights of Third Parties

  • Account debtor: means a person obligated on an account, chattel paper, or general intangible. See Michigan Laws 440.9102
  • 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.
  • Airboat: means a motorboat that is propelled, wholly or in part, by a propeller projecting above the water surface. See Michigan Laws 324.80101
  • 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.
  • Appraisal: A determination of property value.
  • Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
  • Arrest: Taking physical custody of a person by lawful authority.
  • Arrest card: means a paper form or an electronic format prescribed by the department that facilitates the collection and compilation of criminal and juvenile arrest history record information and biometric data. See Michigan Laws 28.241a
  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
  • 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
  • Bequest: Property gifted by will.
  • Biometric data: means all of the following:
  (i) Fingerprint images recorded in a manner prescribed by the department. See Michigan Laws 28.241a
  • Boat: means a vessel. See Michigan Laws 324.80101
  • Chattel paper: means a record or records that evidence both a monetary obligation and a security interest in specific goods, a security interest in specific goods and software used in the goods, a security interest in specific goods and license of software used in the goods, a lease of specific goods, or a lease of specific goods and license of software used in the goods. See Michigan Laws 440.9102
  • Collateral: means the property subject to a security interest or agricultural lien. See Michigan Laws 440.9102
  • Collector plate: means a collector plate that matches any registration plate developed and issued under this act. See Michigan Laws 257.811d
  • Commanding officer: means the director of the department of state police or the director's designee. See Michigan Laws 28.241a
  • Commission: means the Mackinac Island state park commission created in section 76503. See Michigan Laws 324.76501
  • commission: means the Mackinac Island state park commission. See Michigan Laws 324.76701
  • Consumer: means an individual who enters into a transaction primarily for personal, family, or household purposes. See Michigan Laws 440.1201
  • Contract: A legal written agreement that becomes binding when signed.
  • controlling board: means all boards having the care, management, or control over public school districts and public educational institutions other than a public school academy established under the revised school code, Act No. See Michigan Laws 38.73
  • Conviction: A judgement of guilt against a criminal defendant.
  • Criminal history record information: means name; date of birth; personal descriptions including identifying marks, scars, amputations, and tattoos; aliases and prior names; social security number, driver's license number, and other identifying numbers; and information on misdemeanor arrests and convictions and felony arrests and convictions. See Michigan Laws 28.241a
  • Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
  • Debtor: means 1 of the following:
  •   (i) A person having an interest, other than a security interest or other lien, in the collateral, whether or not the person is an obligor. See Michigan Laws 440.9102
  • Department: means the department of state police. See Michigan Laws 28.122
  • Department: means the department of state police. See Michigan Laws 28.241a
  • Department: means the department of commerce. See Michigan Laws 125.1222
  • Department: means the director of the department of natural resources or his or her designee to whom the director delegates a power or duty by written instrument. See Michigan Laws 324.301
  • Deposition: An oral statement made before an officer authorized by law to administer oaths. Such statements are often taken to examine potential witnesses, to obtain discovery, or to be used later in trial.
  • Devise: To gift property by will.
  • Director: means the director of the Mackinac Island state park commission. See Michigan Laws 324.76501
  • Director: means the director of the department of natural resources. See Michigan Laws 324.301
  • Dismissal: The dropping of a case by the judge without further consideration or hearing. Source:
  • Division: means the division of minority business enterprise. See Michigan Laws 125.1222
  • 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.
  • Felony: means a violation of a penal law of this state for which the offender may be punished by imprisonment for more than 1 year or an offense expressly designated by law to be a felony. See Michigan Laws 28.241a
  • 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.
  • 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
  • General intangible: means any personal property, including things in action, other than accounts, chattel paper, commercial tort claims, deposit accounts, documents, goods, instruments, investment property, letter-of-credit rights, letters of credit, money, and oil, gas, or other minerals before extraction. See Michigan Laws 440.9102
  • Gift: 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
  • Goods: means all things that are movable when a security interest attaches. See Michigan Laws 440.9102
  • Health-care-insurance receivable: means an interest in or claim under a policy of insurance which is a right to payment of a monetary obligation for health-care goods or services provided. See Michigan Laws 440.9102
  • Holder: means any of the following:
  •   (i) A person in possession of a negotiable instrument that is payable either to bearer or to an identified person that is the person in possession. See Michigan Laws 440.1201
  • 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
  • Instrument: means a negotiable instrument or any other writing that evidences a right to the payment of a monetary obligation, is not itself a security agreement or lease, and is of a type that in ordinary course of business is transferred by delivery with any necessary indorsement or assignment. See Michigan Laws 440.9102
  • 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.
  • Juvenile history record information: means name; date of birth; personal descriptions including identifying marks, scars, amputations, and tattoos; aliases and prior names; social security number, driver's license number, and other identifying numbers; and information on juvenile offense arrests and adjudications or convictions. See Michigan Laws 28.241a
  • Juvenile offense: means an offense committed by a juvenile that, if committed by an adult, would be a felony, a criminal contempt conviction under section 2950 or 2950a of the revised judicature act of 1961, 1961 PA 236, MCL 600. See Michigan Laws 28.241a
  • Law enforcement agency: means the police department of a city, township, or village, the sheriff's department of a county, the department, or any other governmental law enforcement agency of this state. See Michigan Laws 28.241a
  • 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
  • Letter-of-credit right: means a right to payment or performance under a letter of credit, whether or not the beneficiary has demanded or is at the time entitled to demand payment or performance. See Michigan Laws 440.9102
  • 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 unit of government: means a village, city, township, or county. See Michigan Laws 28.117
  • Marine law: means this part, a local ordinance adopted in conformity with this part, or a rule promulgated under this part. See Michigan Laws 324.80103
  • Methamphetamine-related offense: means 1 or more of the following offenses under Michigan law:
  •   (i) A violation or attempted violation of article 7 of the public health code, 1978 PA 368, MCL 333. See Michigan Laws 28.122
  • Minority business enterprise: means a business enterprise that is owned or controlled solely by 1 or more socially or economically disadvantaged persons. See Michigan Laws 125.1222
  • Misdemeanor: means either of the following:
  •   (i) 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 28.241a
  • Motor vehicle: means any device that is self-propelled, or partially self-propelled, by which a person or property may be transported or drawn. See Michigan Laws 324.76501
  • NADDI: means the national association of drug diversion investigators. See Michigan Laws 28.122
  • 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.
  • NPLEx: means the national precursor log exchange. See Michigan Laws 28.122
  • 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.
  • Operate: means to be in control of a vessel while the vessel is under way and is not secured in some manner such as being docked or at anchor. See Michigan Laws 324.80103
  • Payment intangible: means a general intangible under which the account debtor's principal obligation is a monetary obligation. See Michigan Laws 440.9102
  • 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
  • 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, partnership, corporation, association, governmental entity, or other legal entity. See Michigan Laws 324.301
  • 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.
  • Political subdivision: means a county, metropolitan authority, municipality, or combination of those entities in this state. See Michigan Laws 324.80104
  • Probate: Proving a will
  • Proceeds: means , except as used in section 9609(2), 1 or more of the following property:
  •   (i) Whatever is acquired upon the sale, lease, license, exchange, or other disposition of collateral. See Michigan Laws 440.9102
  • Promissory note: means an instrument that evidences a promise to pay a monetary obligation, does not evidence an order to pay, and does not contain an acknowledgment by a bank that the bank has received for deposit a sum of money or funds. See Michigan Laws 440.9102
  • 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
  • Remedy: means any remedial right to which an aggrieved party is entitled with or without resort to a tribunal. See Michigan Laws 440.1201
  • Reporting agency: means 1 of the following:
  •   (i) If property is seized by or forfeited to a local unit of government, that local unit of government. See Michigan Laws 28.117
  • Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.
  • Right: includes remedy. See Michigan Laws 440.1201
  • Rule: means a rule promulgated pursuant to the administrative procedures act of 1969, 1969 PA 306, MCL 24. See Michigan Laws 324.301
  • Secured party: means 1 or more of the following:
  •   (i) A person in whose favor a security interest is created or provided for under a security agreement, whether or not any obligation to be secured is outstanding. See Michigan Laws 440.9102
  • Security interest: means an interest in personal property or fixtures which secures payment or performance of an obligation. See Michigan Laws 440.1201
  • 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
  • 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.
  • teacher: as used in this act means a certificated individual employed for a full school year by any board of education or controlling board. See Michigan Laws 38.71
  • Temporary ordinance: means a type of local ordinance adopted by a political subdivision of this state under section 80112a that includes, but is not limited to, a local watercraft control or administrative rule. See Michigan Laws 324.80104
  • Term: means a portion of an agreement that relates to a particular matter. See Michigan Laws 440.1201
  • 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.
  • Transportation administration collection fund: means the fund created under section 810b. See Michigan Laws 257.811d
  • Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence.
  • United States: shall be construed to include the district and territories. See Michigan Laws 8.3o
  • Use: means operate, navigate, or employ. See Michigan Laws 324.80104
  • Vessel: means every description of watercraft used or capable of being used as a means of transportation on water. See Michigan Laws 324.80104
  • Waters of this state: means any waters within the territorial limits of this state, and includes those waters of the Great Lakes that are under the jurisdiction of this state. See Michigan Laws 324.80104