§ 18.41 Creation of department of information technology; transfer of authority, powers, and duties relating to information technology services within executive branch or agency to the department of informati

Terms Used In Michigan Laws > Chapter 18 > E.R.O. No. 2001-1

  • Adverse claim: means a claim that a claimant has a property interest in a financial asset and that it is a violation of the rights of the claimant for another person to hold, transfer, or deal with the financial asset. See Michigan Laws 440.8102
  • Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
  • Bearer: means a person in control of a negotiable electronic document of title or a person in possession of an instrument, a negotiable tangible document of title, or a certificated security payable to bearer or indorsed in blank. See Michigan Laws 440.1201
  • benefits: means advantages resulting from a project to public corporations, the inhabitants of public corporations, the inhabitants of this state, and property within public corporations. See Michigan Laws 324.30901
  • Block: means block as that term is used by the United States department of commerce, bureau of the census in conducting its 1980 decennial census. See Michigan Laws 4.804
  • Broker: means a person defined as a broker or dealer under the federal securities laws, but without excluding a bank acting in that capacity. See Michigan Laws 440.8102
  • Certificated security: means a security that is represented by a certificate. See Michigan Laws 440.8102
  • Clearing corporation: means 1 or more of the following:

    (i) A person that is registered as a clearing agency under the federal securities laws. See Michigan Laws 440.8102

  • Complainant: means a resident veteran, family member of a resident veteran, legal guardian or individual with power of attorney for a resident veteran, or legislator who files a complaint under section 4. See Michigan Laws 4.771
  • Creditor: includes a general creditor, a secured creditor, a lien creditor, and any representative of creditors, including an assignee for the benefit of creditors, a trustee in bankruptcy, a receiver in equity, and an executor or administrator of an insolvent debtor's or assignor's estate. See Michigan Laws 440.1201
  • Decedent: A deceased person.
  • Defendant: includes a person in the position of defendant in a counterclaim, cross-claim, or third-party claim. See Michigan Laws 440.1201
  • Delivery: means either of the following:

    (i) With respect to an electronic document of title, a voluntary transfer of control. See Michigan Laws 440.1201

  • Election: means an election or primary election at which the electors of this state or of a subdivision of this state choose or nominate by ballot an individual for public office or decide a ballot question lawfully submitted to them. See Michigan Laws 168.2
  • Entitlement: A Federal program or provision of law that requires payments to any person or unit of government that meets the eligibility criteria established by law. Entitlements constitute a binding obligation on the part of the Federal Government, and eligible recipients have legal recourse if the obligation is not fulfilled. Social Security and veterans' compensation and pensions are examples of entitlement programs.
  • Entitlement holder: means a person identified in the records of a securities intermediary as the person having a security entitlement against the securities intermediary. See Michigan Laws 440.8102
  • Entitlement order: means a notification communicated to a securities intermediary directing transfer or redemption of a financial asset to which the entitlement holder has a security entitlement. See Michigan Laws 440.8102
  • enumeration district: means enumeration district as that term is used by the United States department of commerce, bureau of the census in conducting its 1980 decennial census. See Michigan Laws 4.804
  • facility: means a Michigan veterans' facility established under 1885 PA 152, MCL 36. See Michigan Laws 4.771
  • Financial asset: except as otherwise provided in section 8103, means 1 or more of the following:

    (i) A security. See Michigan Laws 440.8102

  • Genuine: means free of forgery or counterfeiting. See Michigan Laws 440.1201
  • Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. Source: OCC
  • Holder: means any of the following:

    (i) A person in possession of a negotiable instrument that is payable either to bearer or to an identified person that is the person in possession. See Michigan Laws 440.1201

  • Indorsement: means a signature that alone or accompanied by other words is made on a security certificate in registered form or on a separate document for the purpose of assigning, transferring, or redeeming the security or granting a power to assign, transfer, or redeem the security. See Michigan Laws 440.8102
  • Inland lake: means a public inland lake or a private inland lake. See Michigan Laws 324.30901
  • Instruction: means a notification communicated to the issuer of an uncertificated security which directs that the transfer of the security be registered or that the security be redeemed. See Michigan Laws 440.8102
  • Local governing body: means the legislative body of a local unit of government. See Michigan Laws 324.30901
  • Military: means a reference to all components of the state military establishment. See Michigan Laws 32.505
  • Money: means a medium of exchange authorized or adopted by a domestic or foreign government. See Michigan Laws 440.1201
  • Officer: means a commissioned officer and a warrant officer, unless a distinction between commissioned officer and warrant officer is clearly evident. See Michigan Laws 32.505
  • Ombudsman: means the Michigan veterans' facility ombudsman. See Michigan Laws 4.771
  • Person: means an individual, corporation, business trust, estate, trust, partnership, limited liability company, association, joint venture, government, governmental subdivision, agency, or instrumentality, public corporation, or any other legal or commercial entity. See Michigan Laws 440.1201
  • Plaintiff: The person who files the complaint in a civil lawsuit.
  • plant: means a tree, bough, shrub, vine, or other native plant, or a part of a tree, bough, shrub, vine, or other native plant, listed in subsection (1). See Michigan Laws 324.52901
  • Pleadings: Written statements of the parties in a civil case of their positions. In the federal courts, the principal pleadings are the complaint and the answer.
  • Preliminary costs: includes costs of the engineering feasibility report, economic study, estimate of total cost, and cost of setting up the assessment district. See Michigan Laws 324.30901
  • primary election: as used in this act , shall mean a primary election held for the purpose of deciding by ballot who shall be the nominees for the offices named in this act, or for the election by ballot of delegates to political conventions. See Michigan Laws 168.7
  • Purchase: means taking by sale, lease, discount, negotiation, mortgage, pledge, lien, security interest, issue or reissue, gift, or any other voluntary transaction creating an interest in property. See Michigan Laws 440.1201
  • Purchaser: means a person that takes by purchase. See Michigan Laws 440.1201
  • qualified elector: as used in this act , means a person who possesses the qualifications of an elector as prescribed in section 1 of article II of the state constitution of 1963 and who has resided in the city or township 30 days. See Michigan Laws 168.10
  • Record: means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in perceivable form. See Michigan Laws 440.1201
  • Representative: means a person empowered to act for another, including an agent, an officer of a corporation or association, and a trustee, executor, or administrator of an estate. See Michigan Laws 440.1201
  • Right: includes remedy. See Michigan Laws 440.1201
  • seal: means a seal of high tensile strength that is approved by the secretary of state under section 36. See Michigan Laws 168.14a
  • Securities intermediary: means either of the following:

    (i) A clearing corporation. See Michigan Laws 440.8102

  • Security: except as otherwise provided in section 8103, means an obligation of an issuer or a share, participation, or other interest in an issuer or in property or an enterprise of an issuer and is all of the following:

    (i) Represented by a security certificate in bearer or registered form, or the transfer of which may be registered upon books maintained for that purpose by or on behalf of the issuer. See Michigan Laws 440.8102

  • Security certificate: means a certificate representing a security. See Michigan Laws 440.8102
  • Security entitlement: means the rights and property interest of an entitlement holder with respect to a financial asset specified in part 5. See Michigan Laws 440.8102
  • Signed: includes any symbol executed or adopted by a party with present intention to adopt or accept a writing. See Michigan Laws 440.1201
  • State: means a state of the United States, the District of Columbia, Puerto Rico, the United States Virgin Islands, or any territory or insular possession subject to the jurisdiction of the United States. See Michigan Laws 440.1201
  • Tract: means tract as that term is used by the United States department of commerce, bureau of the census in conducting its 1980 decennial census. See Michigan Laws 4.804
  • Unauthorized signature: means a signature made without actual, implied, or apparent authority. See Michigan Laws 440.1201
  • Uncertificated security: means a security that is not represented by a certificate. See Michigan Laws 440.8102
  • writing: includes printing, typewriting, or any other intentional reduction to tangible form. See Michigan Laws 440.1201