Terms Used In Michigan Laws > Chapter 333 > Act 135 of 2007
- Appellate: About appeals; an appellate court has the power to review the judgement of another lower court or tribunal.
- Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
- Chartered: means a risk retention group licensed and authorized to engage in business as a liability insurance company in a state. See Michigan Laws 500.1801
- Commissioner: means the director. See Michigan Laws 500.102
- Department: means the department of community health. See Michigan Laws 333.26242
- Fund: means the prostate cancer research fund created in section 3. See Michigan Laws 333.26242
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- Hazardous financial condition: means that, based on its present or reasonably anticipated financial condition, a risk retention group, although not yet financially impaired or insolvent, is unlikely to be able to meet obligations to policyholders with respect to known claims and reasonably anticipated claims or to pay other obligations in the normal course of business. See Michigan Laws 500.1801
- person: may extend and be applied to bodies politic and corporate, as well as to individuals. See Michigan Laws 8.3l
- Risk retention group: means a corporation or other limited liability association which meets all of the following criteria:
(i) Is either of the following:
(A) Chartered in a state. See Michigan Laws 500.1801
- State: means any state of the United States or the District of Columbia. See Michigan Laws 500.1801
- 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
- United States: shall be construed to include the district and territories. See Michigan Laws 8.3o