Terms Used In Michigan Laws > Chapter 287 > Act 291 of 1972 - Beef Industry Commission Act

• Administrator: means the director of the department or his or her designated representative. See Michigan Laws 450.4102
• Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
• 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.
• Articles of organization: means the original documents filed to organize a limited liability company, as amended or restated by certificates of correction, amendment, or merger, by restated articles, or by other instruments filed or issued under any statute. See Michigan Laws 450.4102
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Attorney-at-law: A person who is legally qualified and licensed to practice law, and to represent and act for clients in legal proceedings.
• Cattle: means ruminating and nonruminating bovine animals sold for slaughter, ruminating and nonruminating bovine animals produced in this state to be fed for slaughter, and ruminating and nonruminating bovine animals to be fed for slaughter and sold in this state more than 30 days after arrival in this state. See Michigan Laws 287.602
• Commission: means the state beef industry commission. See Michigan Laws 287.602
• Constituent: means a party to a plan of merger, including the survivor. See Michigan Laws 450.4102
• 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.
• Department: means the state department of agriculture. See Michigan Laws 287.602
• Department: means the department of licensing and regulatory affairs. See Michigan Laws 450.4102
• Director: means the director of the state department of agriculture. See Michigan Laws 287.602
• domestic limited liability company: means an entity that is an unincorporated membership organization formed under this act. See Michigan Laws 450.4102
• Evidence: 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.
• Ex officio: Literally, by virtue of one's office.
• Foreign limited liability company: means a limited liability company formed under laws other than the laws of this state. See Michigan Laws 450.4102
• 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.
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• managers: means a person or persons designated to manage the limited liability company pursuant to a provision in the articles of organization stating that the business is to be managed by or under the authority of managers. See Michigan Laws 450.4102
• Market agency: means a person, including a producer, who sells, offers for sale, markets, distributes, trades, or processes cattle which have been purchased or acquired from a producer or other, or which is marketed on behalf of a producer, and includes meat packing firms and their agents which purchase or consign to purchase cattle. See Michigan Laws 287.602
• Member: means a person that has been admitted to a limited liability company as provided in section 501, or, in the case of a foreign limited liability company, a person that is a member of the foreign limited liability company in accordance with the laws under which the foreign limited liability company is organized. See Michigan Laws 450.4102
• Member capital: means the assets that a member must provide by payment, transfer, or allocation of net savings to a cooperative as a condition of admission to or retention of membership and with respect to which the member has rights to dividends, redemption, or distributions on dissolution under this chapter. See Michigan Laws 450.3104
• month: 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
• 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.
• Operating agreement: means a written agreement by the member of a limited liability company that has 1 member, or between all of the members of a limited liability company that has more than 1 member, pertaining to the affairs of the limited liability company and the conduct of its business. See Michigan Laws 450.4102
• 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.
• Patron: means a person whose economic exchange is a regular part of the business of a cooperative or foreign cooperative, if the economic exchange is the same type of regular economic exchange engaged in by any class of members. See Michigan Laws 450.3104
• Patronage: means the selling or providing of goods, services, or facilities to, or the buying of goods, services, or facilities from members or other persons, or providing labor or services to or by a cooperative. See Michigan Laws 450.3104
• Person: means a natural person, partnership, corporation, company, association, society, or trust, or other business unit or organization. See Michigan Laws 287.602
• Person: means an individual, partnership, limited liability company, trust, custodian, estate, association, corporation, nonprofit corporation, governmental entity, or any other legal entity. See Michigan Laws 450.4102
• Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. ^{Source: OCC}
• Producer: means a person who raises or feeds cattle for market. See Michigan Laws 287.602
• Quorum: The number of legislators that must be present to do business.
• shall not apply: means that the pertinent provision is not operative as to certain persons or things or in conjunction with a particular date or dates. See Michigan Laws 8.4c
• 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
• Statute: A law passed by a legislature.
• survivor: means the constituent that survives a merger, as identified in the certificate of merger. See Michigan Laws 450.4102
• Trustee: A person or institution holding and administering property in trust.
• Vote: means an affirmative vote, approval, or consent. See Michigan Laws 450.4102