Terms Used In Michigan Laws > Chapter 446 > Act 66 of 2009 - Refund Anticipation Loan Disclosure Act

• 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.
• County juvenile agency: means that term as defined in section 2 of the county juvenile agency act, 1998 PA 518, MCL 45. See Michigan Laws 712A.1
• Court: means the family division of circuit court. See Michigan Laws 712A.1
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• Department: means the department of health and human services. See Michigan Laws 712A.1
• Facilitator: means a person that individually or in conjunction or cooperation with another person processes, receives, or accepts for delivery an application for a refund anticipation loan or a check in payment of refund anticipation loan proceeds or in any other manner materially facilitates the making of a refund anticipation loan. See Michigan Laws 446.113
• Financial institution: means a state or nationally chartered bank or a state or federally chartered savings and loan association, savings bank, or credit union. See Michigan Laws 446.113
• Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
• 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
• 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.
• juvenile: means a person who is less than 17 years of age who is the subject of a delinquency petition. See Michigan Laws 712A.1
• Lender: means a person that makes a refund anticipation loan. See Michigan Laws 446.113
• Licensed child caring institution: means a child caring institution as defined and licensed under 1973 PA 116, MCL 722. See Michigan Laws 712A.1
• Lien: A claim against real or personal property in satisfaction of a debt.
• Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
• 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, partnership, association, corporation, limited liability company, or other legal entity. See Michigan Laws 446.113
• person: may extend and be applied to bodies politic and corporate, as well as to individuals. See Michigan Laws 8.3l
• Probate: Proving a will
• Probation: A sentencing alternative to imprisonment in which the court releases convicted defendants under supervision as long as certain conditions are observed.
• Refund anticipation loan: means an extension of credit to a taxpayer that a person arranges to be repaid directly from the proceeds of the taxpayer's federal or state personal income tax refund. See Michigan Laws 446.113
• 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
• Taxpayer: means an individual who files a federal or Michigan personal income tax return. See Michigan Laws 446.113
• Truth in Lending Act: The Truth in Lending Act is a federal law that requires lenders to provide standardized information so that borrowers can compare loan terms. In general, lenders must provide information on ^{Source: OCC}