Michigan Laws 290.451 – Definitions
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As used in this act:
(a) “Potatoes” means any variety of Irish potatoes in fresh form included in the species solanum tuberosum.
Terms Used In Michigan Laws 290.451
- 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.
- Director: means the director of the department of agriculture and his or her authorized agents and representatives. See Michigan Laws 290.451
- Federal Deposit Insurance Corporation: A government corporation that insures the deposits of all national and state banks that are members of the Federal Reserve System. Source: OCC
- Grower: means a person engaged in the business of growing and producing potatoes. See Michigan Laws 290.451
- Grower cooperative: means an organization of growers or a division of an organization of growers, or a federation of cooperatives of growers engaged in the marketing, bargaining, shipping, or processing functions of potatoes on behalf of its members or nonmembers who are the producers of potatoes. See Michigan Laws 290.451
- 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
- National Bank: A bank that is subject to the supervision of the Comptroller of the Currency. The Office of the Comptroller of the Currency is a bureau of the U.S. Treasury Department. A national bank can be recognized because it must have "national" or "national association" in its name. Source: OCC
- 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 a corporation, company, association, cooperative organization, partnership, individual, or other legal entity. See Michigan Laws 290.451
- Potatoes: means any variety of Irish potatoes in fresh form included in the species solanum tuberosum. See Michigan Laws 290.451
- Public law: A public bill or joint resolution that has passed both chambers and been enacted into law. Public laws have general applicability nationwide.
- Wholesale potato dealer: means a person who buys potatoes in wholesale lots directly from a grower or grower cooperative or who sells or handles those potatoes in wholesale lots for the purpose of processing or resale to other wholesale potato dealers, retailers, restaurants, hotels, institutions, or hospitals. See Michigan Laws 290.451
(b) “Grower” means a person engaged in the business of growing and producing potatoes.
(c) “Wholesale potato dealer” means a person who buys potatoes in wholesale lots directly from a grower or grower cooperative or who sells or handles those potatoes in wholesale lots for the purpose of processing or resale to other wholesale potato dealers, retailers, restaurants, hotels, institutions, or hospitals.
(d) “Person” means a corporation, company, association, cooperative organization, partnership, individual, or other legal entity.
(e) “Due date” in case of a sale means not more than 30 days after the date of delivery of potatoes by a seller to a wholesale potato dealer. In case of a consignment it means not more than 30 days after the date the sale is made by the wholesale potato dealer, unless an agreement for extension of credit has been made between the seller and the purchaser at the time of sale or consignment in writing or unless prompt cash payment on delivery is specified.
(f) “Director” means the director of the department of agriculture and his or her authorized agents and representatives.
(g) “Financial institution” means a commercial bank whose deposits are insured by the federal deposit insurance corporation or a national bank for cooperatives subject to the farm credit act of 1971, Public Law 92-181, 85 Stat. 583.
(h) “Grower cooperative” means an organization of growers or a division of an organization of growers, or a federation of cooperatives of growers engaged in the marketing, bargaining, shipping, or processing functions of potatoes on behalf of its members or nonmembers who are the producers of potatoes.