Michigan Laws > Chapter 3 > Act 173 of 2006 – Midwest Interstate Passenger Rail Compact


§ 3.1021	Short title
§ 3.1022	Midwest interstate passenger rail compact

Terms Used In Michigan Laws > Chapter 3 > Act 173 of 2006 - Midwest Interstate Passenger Rail Compact

Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
Collateral: means the property subject to a security interest or agricultural lien. See Michigan Laws 440.9102
Commodity account: means an account maintained by a commodity intermediary in which a commodity contract is carried for a commodity customer. See Michigan Laws 440.9102
Commodity contract: means a commodity futures contract, an option on a commodity futures contract, a commodity option, or another contract if the contract or option is 1 of the following:

(i) Traded on or subject to the rules of a board of trade that has been designated as a contract market for such a contract pursuant to federal commodities laws. See Michigan Laws 440.9102

Commodity intermediary: means 1 of the following:

(i) A person that is registered as a futures commission merchant under federal commodities law. See Michigan Laws 440.9102

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.

Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.

Delivery: means either of the following:

(i) With respect to an electronic document of title, a voluntary transfer of control. See Michigan Laws 440.1201

Department: means the department of agriculture and rural development. See Michigan Laws 324.9301

Department: means the director of the department of natural resources or his or her designee to whom the director delegates a power or duty by written instrument. See Michigan Laws 324.301

Entitlement: A Federal program or provision of law that requires payments to any person or unit of government that meets the eligibility criteria established by law. Entitlements constitute a binding obligation on the part of the Federal Government, and eligible recipients have legal recourse if the obligation is not fulfilled. Social Security and veterans' compensation and pensions are examples of entitlement programs.

Investment property: means a security, whether certificated or uncertificated, security entitlement, securities account, commodity contract, or commodity account. See Michigan Laws 440.9102

Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.

Letter-of-credit right: means a right to payment or performance under a letter of credit, whether or not the beneficiary has demanded or is at the time entitled to demand payment or performance. See Michigan Laws 440.9102

Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.

Line of duty: as used in this act means an act performed by a member of the state military establishment in obedience to or in conformity with a law, rule, regulation, order, command or custom of the military service or an act performed which is not in violation of a law, rule, regulation, order, command or custom of the military service, or that will not bring discredit to the military service. See Michigan Laws 32.521

Litter: means any of the following:

(i) Rubbish, refuse, waste material, garbage, offal, paper, glass, cans, bottles, trash, debris, or other foreign substances. See Michigan Laws 324.8901

Military: means a reference to all components of the state military establishment. See Michigan Laws 32.505

Oversight: Committee review of the activities of a Federal agency or program.

Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.

Person: means an individual, corporation, business trust, estate, trust, partnership, limited liability company, association, joint venture, government, governmental subdivision, agency, or instrumentality, public corporation, or any other legal or commercial entity. See Michigan Laws 440.1201

person: may extend and be applied to bodies politic and corporate, as well as to individuals. See Michigan Laws 8.3l

Person: means an individual, partnership, corporation, association, governmental entity, or other legal entity. See Michigan Laws 324.301

Public law: A public bill or joint resolution that has passed both chambers and been enacted into law. Public laws have general applicability nationwide.

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.

Right: includes remedy. See Michigan Laws 440.1201

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

Secured party: means 1 or more of the following:

(i) A person in whose favor a security interest is created or provided for under a security agreement, whether or not any obligation to be secured is outstanding. See Michigan Laws 440.9102

Security interest: means an interest in personal property or fixtures which secures payment or performance of an obligation. See Michigan Laws 440.1201

State: means this state. See Michigan Laws 324.9301

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.

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

Vehicle: means a motor vehicle registered or required to be registered under the Michigan vehicle code, 1949 PA 300, MCL 257. See Michigan Laws 324.8901

Vessel: means a vessel registered under part 801. See Michigan Laws 324.8901