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Terms Used In Michigan Laws 432.214

  • Board: means the Michigan gaming control board created under section 4. See Michigan Laws 432.202
  • Casino: means a building or buildings in which gaming is conducted. See Michigan Laws 432.202
  • City: means a local unit of government other than a county that meets all of the following criteria:
  (i) Has a population of at least 800,000 at the time a license is issued. See Michigan Laws 432.202
  • Compensation: means any money, thing of value, or financial benefit conferred on or received by a person in return for services rendered, or to be rendered, whether by that person or another. See Michigan Laws 432.202
  • 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.
  • 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
  •   Within 90 days after the end of each fiscal year each casino licensee shall transmit to the board and to the city in which the licensee’s casino is located an audit of the financial condition of the licensee’s total operations. An audit under this section must be conducted by a certified public accountant in a manner and form prescribed by the board. The certified public accountant that performs the audit must be registered in this state under article 7 of the occupational code, 1980 PA 299, MCL 339.720 to 339.736. The licensee shall pay the compensation for the certified public accountant directly to the certified public accountant.