Michigan Laws > Chapter 390 > Act 45 of 2015 – Higher Education Authorization and Distance Education Reciprocal Exchange Act
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Terms Used In Michigan Laws > Chapter 390 > Act 45 of 2015 - Higher Education Authorization and Distance Education Reciprocal Exchange Act
- Accredited: means approved by an accrediting body recognized by the United States Department of Education. See Michigan Laws 390.1692
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Authorization: means either of the following:
(i) An authorization from the department under section 4(1) to participate in a reciprocal agreement. See Michigan Laws 390.1692College or university: means a degree or certificate granting public or private college or university, junior college, or community college. See Michigan Laws 390.1692 Commissioner: means the director. See Michigan Laws 500.102 Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant. 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. Department: means the department of licensing and regulatory affairs. See Michigan Laws 390.1692 Distance education: means education that uses 1 or more technologies to deliver instruction to students who are separated from the instructor, and to support regular and substantive interaction between the students and the instructor, either synchronously or asynchronously. See Michigan Laws 390.1692 Escheat: Reversion of real or personal property to the state when 1) a person dies without leaving a will and has no heirs, or 2) when the property (such as a bank account) has been inactive for a certain period of time. Source: OCC 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. 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 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 Participating college: means a college or university that is located in this state; elects to participate in a reciprocal agreement under this act; and meets the requirements of section 4. See Michigan Laws 390.1692 person: may extend and be applied to bodies politic and corporate, as well as to individuals. See Michigan Laws 8.3l Reciprocal agreement: means an agreement between this state and a higher education compact or 1 or more other states that allows participating colleges to provide distance education to residents of this state and other member states under this act. See Michigan Laws 390.1692 Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action. 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 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