Terms Used In Michigan Laws > Chapter 38 > Act 4 of 1937 > Article VIII - Districts

• commission: means the Mackinac Island state park commission. See Michigan Laws 324.76701
• Conviction: A judgement of guilt against a criminal defendant.
• Department: means the department of state police. See Michigan Laws 28.122
• Escrow: Money given to a third party to be held for payment until certain conditions are met.
• 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}
• Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). ^{Source: OCC}
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• NADDI: means the national association of drug diversion investigators. See Michigan Laws 28.122
• NPLEx: means the national precursor log exchange. See Michigan Laws 28.122
• person: may extend and be applied to bodies politic and corporate, as well as to individuals. See Michigan Laws 8.3l
• 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
• Trust account: A general term that covers all types of accounts in a trust department, such as estates, guardianships, and agencies. ^{Source: OCC}
• 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