Michigan Laws > Chapter 125 > Act 33 of 2008 > Article III – Preparation and Adoption of Master Plan
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Terms Used In Michigan Laws > Chapter 125 > Act 33 of 2008 > Article III - Preparation and Adoption of Master Plan
- accumulated contributions: means the amounts deducted from the compensations of a member of a reciprocal retirement system and credited to his individual account in the system, together with interest, if any, credited thereon. See Michigan Laws 38.1102
- 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.
- Approved: means acceptable to the department. See Michigan Laws 333.13301
- 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.
- Contract: A legal written agreement that becomes binding when signed.
- 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.
- Dry cleaning: includes dry dyeing and means the process of removing dirt, grease, paints, and other stains from wearing apparel, textiles, fabrics, and rugs by use of nonaqueous liquid solvents, including:
(i) Immersion and agitation in open vessels. See Michigan Laws 333.13301Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other. Fiduciary: A trustee, executor, or administrator. Final average salary: means the salary or the average of salaries used in computing a retirement allowance, as set forth in the retirement system plan. See Michigan Laws 38.1102 Governmental unit: means the state to the extent the employees of the state are covered under an applicable state unit; and any municipal unit. See Michigan Laws 38.1102 Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases. Legislative body: means the county board of commissioners of a county, the board of trustees of a township, or the council or other elected governing body of a city or village. See Michigan Laws 125.3803 Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity. Lineal descendant: Direct descendant of the same ancestors. local unit: means a county or municipality. See Michigan Laws 125.3803 Master plan: means either of the following:
(i) As provided in section 81(1), any plan adopted or amended before September 1, 2008 under a planning act repealed under section 85. See Michigan Laws 125.3803month: means a calendar month; the word "year" a calendar year; and the word "year" alone shall be equivalent to the words "year of our Lord". See Michigan Laws 8.3j Mortgage: The written agreement pledging property to a creditor as collateral for a loan. municipal: means or refers to a city, village, or township. See Michigan Laws 125.3803 Municipal unit: means a county, city, village, township or school district of the first class; any separate corporation or instrumentality established by 1 or more counties, cities or villages, as permitted by law; any corporation or instrumentality supported in most part by counties, cities and villages, or any of them; any public corporation charged by law with the performance of a governmental function and whose jurisdiction is coextensive with 1 or more counties, cities and villages. See Michigan Laws 38.1102 Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period. 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 person as defined in section 1106 or a governmental entity. See Michigan Laws 333.13301 person: may extend and be applied to bodies politic and corporate, as well as to individuals. See Michigan Laws 8.3l Planning commission: means either of the following, as applicable:
(i) A planning commission created pursuant to section 11(1). See Michigan Laws 125.3803Public law: A public bill or joint resolution that has passed both chambers and been enacted into law. Public laws have general applicability nationwide. Public transportation agency: means a governmental entity that operates or is authorized to operate intercity or local commuter passenger rail service in this state or a public transit authority created under 1 of the following acts:
(i) The metropolitan transportation authorities act of 1967, 1967 PA 204, MCL 124. See Michigan Laws 125.3803reciprocal retirement system: means a state unit which elects to become a reciprocal unit. See Michigan Laws 38.1102 Reciprocal unit: means any state unit or municipal unit which elects to come under the provisions of this act. See Michigan Laws 38.1102 Retirement: means the withdrawal of a member of a reciprocal retirement system from the employ of a reciprocal unit with a retirement allowance payable from funds of the reciprocal retirement system. See Michigan Laws 38.1102 Retirement allowance: means the annuity, pension or retirement allowance payable to a member of a reciprocal retirement system on account of his employment with a reciprocal unit. See Michigan Laws 38.1102 Retirement system: means the retirement, pension or annuity system, plan or fund under which a governmental unit covers its employees. See Michigan Laws 38.1102 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 State unit: means the state employees' retirement system, established by Act No. See Michigan Laws 38.1102 Street: means a street, avenue, boulevard, highway, road, lane, alley, viaduct, or other public way intended for use by motor vehicles, bicycles, pedestrians, and other legal users. See Michigan Laws 125.3803 United States: shall be construed to include the district and territories. See Michigan Laws 8.3o