Michigan Laws 35.71 – Definitions
Current as of: 2023 | Check for updates
|
Other versions
Definitions. As used in this act:
The term “person” includes a partnership, corporation or an association.
Terms Used In Michigan Laws 35.71
- administrator: means the administrator of veterans affairs, or his successor. See Michigan Laws 35.71
- 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
- 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.
- Fiduciary: A trustee, executor, or administrator.
- 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.
- 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: includes a partnership, corporation or an association. See Michigan Laws 35.71
- United States: shall be construed to include the district and territories. See Michigan Laws 8.3o
- veterans administration: means the United States veterans administration, its predecessors or successors. See Michigan Laws 35.71
- ward: means a beneficiary of the veterans administration. See Michigan Laws 35.71
The term “veterans administration” means the United States veterans administration, its predecessors or successors.
The terms “estate” and “income” shall include only moneys received by the guardian from the veterans administration, all earnings, interest, and profit derived therefrom and all property acquired therewith.
The term “benefits” shall mean all moneys paid or payable by the United States through the veterans administration.
The term “administrator” means the administrator of veterans affairs, or his successor.
The term “ward” means a beneficiary of the veterans administration.
The term “guardian” as used herein shall mean any person acting as a fiduciary for a ward.