Michigan Laws > Chapter 333 > E.R.O. No. 1995-20 – Executive Reorganization Order


§ 333.26323	Transfer of the biologic products division of the department of public health and the pharmaceutical products fund to the Michigan biologic products institute by type III transfer

Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
Contract: A legal written agreement that becomes binding when signed.
Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
Insurance: means any of the lines of authority in chapter 6. See Michigan Laws 500.1201
Intangible property: Property that has no intrinsic value, but is merely the evidence of value such as stock certificates, bonds, and promissory notes.
Oversight: Committee review of the activities of a Federal agency or program.
person: may extend and be applied to bodies politic and corporate, as well as to individuals. See Michigan Laws 8.3l
Quorum: The number of legislators that must be present to do business.
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.
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.
United States: shall be construed to include the district and territories. See Michigan Laws 8.3o