§ 129.311 Short title
§ 129.312 Definitions
§ 129.313 Ineligibility of Iran linked business to submit request for proposal bid; certification
§ 129.314 Effect of false certification
§ 129.315 Civil action; penalty
§ 129.316 Conditional effect

Terms Used In Michigan Laws > Chapter 129 > Act 517 of 2012 - Iran Economic Sanctions Act

  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Authorized individual: means an individual who by section 2959 or by the laws of the United States, including members of the diplomatic and consular service of the United States designated by foreign service regulations, is empowered to supervise the execution of international wills. See Michigan Laws 700.2951
  • 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.
  • 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
  • International will: means a will executed in conformity with this part. See Michigan Laws 700.2951
  • Investment: means 1 or more of the following:
  (i) A commitment or contribution of funds or property. See Michigan Laws 129.312
  • Iran: means any agency or instrumentality of Iran. See Michigan Laws 129.312
  • Iran linked business: means either of the following:
  •   (i) A person engaging in investment activities in the energy sector of Iran, including a person that provides oil or liquefied natural gas tankers or products used to construct or maintain pipelines used to transport oil or liquefied natural gas for the energy sector of Iran. See Michigan Laws 129.312
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • 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 an individual or an organization. See Michigan Laws 700.1106
  • Person: means any of the following:
  •   (i) An individual, corporation, company, limited liability company, business association, partnership, society, trust, or any other nongovernmental entity, organization, or group. See Michigan Laws 129.312
  • Property: means anything that may be the subject of ownership. See Michigan Laws 700.2901
  • Public entity: means this state or an agency or authority of this state, school district, community college district, intermediate school district, city, village, township, county, public authority, or public airport authority. See Michigan Laws 129.312
  • 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
  • Testator: includes an individual of either gender. See Michigan Laws 700.1107
  • Testator: A male person who leaves a will at death.
  • United States: shall be construed to include the district and territories. See Michigan Laws 8.3o
  • Will: includes , but is not limited to, a codicil and a testamentary instrument that appoints a personal representative, revokes or revises another will, nominates a guardian, or expressly excludes or limits the right of an individual or class to succeed to the decedent's property that is passing by intestate succession. See Michigan Laws 700.1108