Terms Used In Michigan Laws > Chapter 750 > Act 328 of 1931 > Chapter XXIX - Disturbing Meetings

• 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.
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• 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.
• Conviction: A judgement of guilt against a criminal defendant.
• Department: means the department of insurance and financial services. See Michigan Laws 451.412
• Director: means the director of the department or his or her authorized representative. See Michigan Laws 451.412
• Fraud: Intentional deception resulting in injury to another.
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• License: means a written certificate or exemption order issued by the director under this act. See Michigan Laws 451.412
• Licensee: means a person that is licensed, or is required to be licensed, under this act to perform debt management services and is located inside or outside the boundaries of this state. See Michigan Laws 451.412
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• Person: means an individual, corporation, partnership, association, joint stock company, trust if the interests of the beneficiaries are evidenced by a security, limited liability company, or other legal entity. See Michigan Laws 451.412
• person: may extend and be applied to bodies politic and corporate, as well as to individuals. See Michigan Laws 8.3l