Michigan Laws > Chapter 331 > Act 109 of 1945 – Hospitals and Sanatoria
Current as of: 2023 | Check for updates
|
Other versions
Terms Used In Michigan Laws > Chapter 331 > Act 109 of 1945 - Hospitals and Sanatoria
- Affiliate: means any company that controls, is controlled by, or is under common control with another company. See Michigan Laws 500.503
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- Bequest: Property gifted by will.
- Commissioner: means the director. See Michigan Laws 500.102
- Consumer: includes , but is not limited to, all of the following:
(A) An individual who provides nonpublic personal information to a licensee in connection with obtaining or seeking to obtain financial, investment, or economic advisory services relating to an insurance product or service. See Michigan Laws 500.503Consumer: means an individual, including, but not limited to, an applicant, a policyholder, an insured, a beneficiary, a claimant, and a certificate holder, who is a resident of this state and whose nonpublic information is in a licensee's possession, custody, or control. See Michigan Laws 500.553 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. Customer: means a consumer who has a customer relationship with a licensee. See Michigan Laws 500.503 Customer relationship: means a continuing relationship between a consumer and a licensee under which the licensee provides 1 or more insurance products or services to the consumer that are to be used primarily for personal, family, or household purposes. See Michigan Laws 500.503 Cybersecurity event: means an event that results in unauthorized access to and acquisition of, or disruption or misuse of, an information system or nonpublic information stored on an information system. See Michigan Laws 500.553 Deed: The legal instrument used to transfer title in real property from one person to another. Department: means the department of insurance and financial services. See Michigan Laws 500.102 Devise: To gift property by will. Director: means , unless the context clearly implies a different meaning, the director of the department. See Michigan Laws 500.102 Encrypted: means the transformation of data into a form that results in a low probability of assigning meaning without the use of a protective process or key. See Michigan Laws 500.553 Fair Credit Reporting Act: A federal law, established in 1971 and revised in 1997, that gives consumers the right to see their credit records and correct any mistakes. Source: OCC Fiduciary: A trustee, executor, or administrator. Fraud: Intentional deception resulting in injury to another. Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value. hospitals: as used in this act shall include hospitals, sanatoria and other institutions operated for the purposes mentioned in section 2 of this act. See Michigan Laws 331.201 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 Information security program: means the administrative, technical, and physical safeguards that a licensee uses to access, collect, distribute, process, protect, store, use, transmit, dispose of, or otherwise handle nonpublic information. See Michigan Laws 500.553 Information system: means a discrete set of electronic information resources organized for the collection, processing, maintenance, use, sharing, dissemination, or disposition of electronic nonpublic information, as well as any specialized system such as an industrial or process controls system, a telephone switching and private branch exchange system, or an environmental control system. See Michigan Laws 500.553 Initial notice: means the privacy notice required in section 507. See Michigan Laws 500.503 Insurance product or service: means any product or service that is offered by a licensee pursuant to the insurance laws of this state or pursuant to a federal insurance program. See Michigan Laws 500.503 Insurer: means an individual, corporation, association, partnership, reciprocal exchange, inter-insurer, Lloyds organization, fraternal benefit society, or other legal entity, engaged or attempting to engage in the business of making insurance or surety contracts. See Michigan Laws 500.106 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. Licensee: means a licensed insurer or producer, and other persons licensed or required to be licensed, authorized or required to be authorized, registered or required to be registered, or holding or required to hold a certificate of authority under this act. See Michigan Laws 500.503 Licensee: means a licensed insurer or producer, and other persons licensed or required to be licensed, authorized, or registered, or holding or required to hold a certificate of authority under this act. See Michigan Laws 500.553 Multi-factor authentication: means authentication through verification of at least 2 of the following types of authentication factors:
(i) Knowledge factors, such as a password. See Michigan Laws 500.553National Credit Union Administration: The federal regulatory agency that charters and supervises federal credit unions. (NCUA also administers the National Credit Union Share Insurance Fund, which insures the deposits of federal credit unions.) Source: OCC Nonaffiliated third party: means any person except a licensee's affiliate or a person employed jointly by a licensee and any company that is not the licensee's affiliate. See Michigan Laws 500.503 Nonpublic information: means electronic information that is not publicly available information and is any of the following:
(i) Business-related information of a licensee, the tampering with which, or unauthorized disclosure, access, or use of which, would cause a material adverse impact to the business, operations, or security of the licensee. See Michigan Laws 500.553Nonpublic personal financial information: means personally identifiable financial information and any list, description, or other grouping of consumers and publicly available information pertaining to them that is derived using any personally identifiable financial information that is not publicly available. See Michigan Laws 500.503 Opt out: means a direction by the consumer that the licensee not disclose nonpublic personal financial information about that consumer to a nonaffiliated third party, other than as permitted by sections 535, 537, and 539. See Michigan Laws 500.503 person: may extend and be applied to bodies politic and corporate, as well as to individuals. See Michigan Laws 8.3l Personal property: All property that is not real property. Producer: means a person required to be licensed under this act to sell, solicit, or negotiate insurance. See Michigan Laws 500.503 Public law: A public bill or joint resolution that has passed both chambers and been enacted into law. Public laws have general applicability nationwide. Publicly available information: means any information that a licensee has a reasonable basis to believe is lawfully made available to the general public from federal, state, or local government records, by widely distributed media, or by disclosures to the general public that are required to be made by federal, state, or local law. See Michigan Laws 500.553 Rate: means the cost of insurance per payroll before adjustment for an individual insured's size, exposure, or loss experience. See Michigan Laws 500.2402 Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant. Risk assessment: means the risk assessment that each licensee is required to conduct under section 555(3). See Michigan Laws 500.553 Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims. 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. Subpoena: A command to a witness to appear and give testimony. Summons: Another word for subpoena used by the criminal justice system. Third-party service provider: means a person that is not a licensee and that contracts with a licensee to maintain, process, or store, or otherwise is permitted access to nonpublic information, through its provision of services to the licensee. See Michigan Laws 500.553 Trustee: A person or institution holding and administering property in trust. United States: shall be construed to include the district and territories. See Michigan Laws 8.3o