§ 390.701 Albion college; creation; board of trustees; powers
§ 390.701a Definitions
§ 390.702 Board of trustees; membership; term of office; limitation
§ 390.703 Board of trustees; powers; course of study; conferring of degrees
§ 390.705 Powers of corporation
§ 390.705a Board of trustees; custodians of endowment funds
§ 390.706 Act declared public; non-user of privileges; misnomer in instrument
§ 390.707 Breach of trustee’s or officer’s fiduciary duty; liability
§ 390.707a Volunteer trustee; liability for acts or omissions
§ 390.707b Volunteer trustee or nontrustee volunteer; liability of college; conditions
§ 390.707c Volunteer trustee or nontrustee volunteer; liability for claim for monetary damages

Terms Used In Michigan Laws > Chapter 390 > Act 72 of 1857 - Albion College

  • Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Bequest: Property gifted by will.
  • Board of trustees: means the board of trustees of Albion college created in section 1. See Michigan Laws 390.701a
  • College: means Albion college, created in section 1. See Michigan Laws 390.701a
  • 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.
  • Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
  • Deed: The legal instrument used to transfer title in real property from one person to another.
  • Fiduciary: A trustee, executor, or administrator.
  • Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
  • Nontrustee volunteer: means an individual, other than a volunteer trustee, performing services for the college who does not receive compensation or any other type of consideration for the services other than reimbursement for expenses actually incurred. See Michigan Laws 390.701a
  • person: may extend and be applied to bodies politic and corporate, as well as to individuals. See Michigan Laws 8.3l
  • seal: shall be construed to include any of the following:
  (a) The impression of the seal on the paper alone. See Michigan Laws 8.3n
  • 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
  • Tort: A civil wrong or breach of a duty to another person, as outlined by law. A very common tort is negligent operation of a motor vehicle that results in property damage and personal injury in an automobile accident.
  • Trustee: means a member of the board of trustees. See Michigan Laws 390.701a
  • Trustee: A person or institution holding and administering property in trust.