Terms Used In Michigan Laws 488.23

  • Contract: A legal written agreement that becomes binding when signed.
  • person: may extend and be applied to bodies politic and corporate, as well as to individuals. See Michigan Laws 8.3l
   A person providing services of a funds transfer facility and a financial institution using a funds transfer facility shall not contract, combine, conspire, or otherwise attempt to restrain trade in a market for services of funds transfer facilities or engage in anticompetitive practices to the detriment of the public interest.