§ 447.151 Short title
§ 447.152 Definitions
§ 447.153 Michigan export development authority; creation; budgeting, procurement, and related functions; purpose of authority
§ 447.154 Board of directors; appointment, qualifications, and terms of members; vacancy; oath or affirmation; reimbursement for expenses; election of chairperson, vice-chairperson, secretary, and other officer
§ 447.155 Effect of vacancy in membership of board; authorization and effective date of action by board; delegation of powers and duties; liability or accountability on contract, commitment, or agreement; liabi
§ 447.156 Conducting business at public meeting; notice; availability of writings to public; confidentiality
§ 447.157 Powers of authority generally
§ 447.158 Guarantee or export insurance for eligible export transaction; requirements; fees; determinations; condition to provision of guarantee or export insurance
§ 447.158a Grant to non-profit organization; purposes
§ 447.159 Bonds generally
§ 447.160 Bonds and notes generally
§ 447.161 Bonds or security agreement; resolution; trustee or depository
§ 447.162 Bonds; refunding
§ 447.163 Proceeds from sale of bonds; application; export development bond fund as separate fund; investments and earnings
§ 447.164 Tax exemptions generally
§ 447.165 Additional tax exemptions
§ 447.166 Insurance fund; insurance pledged as security
§ 447.167 Bonds, debentures, notes, or other evidence of indebtedness as securities; investment; deposit
§ 447.168 Annual report; contents; examination; audit

Terms Used In Michigan Laws > Chapter 447 > Act 157 of 1986 - Michigan Export Development Act

  • Advice and consent: Under the Constitution, presidential nominations for executive and judicial posts take effect only when confirmed by the Senate, and international treaties become effective only when the Senate approves them by a two-thirds vote.
  • Authority: means the Michigan export development authority created by section 3. See Michigan Laws 447.152
  • Bequest: Property gifted by will.
  • Board: means the board of directors of the authority established by section 4. See Michigan Laws 447.152
  • Child: means an individual who is younger than 18 years of age. See Michigan Laws 722.1102
  • Child-custody determination: means a judgment, decree, or other court order providing for legal custody, physical custody, or parenting time with respect to a child. See Michigan Laws 722.1102
  • Child-custody proceeding: means a proceeding in which legal custody, physical custody, or parenting time with respect to a child is an issue. See Michigan Laws 722.1102
  • Commencement: means the filing of the first pleading in a proceeding. See Michigan Laws 722.1102
  • Contract: A legal written agreement that becomes binding when signed.
  • Conviction: A judgement of guilt against a criminal defendant.
  • 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.
  • Court: means an entity authorized under the law of a state to establish, enforce, or modify a child-custody determination. See Michigan Laws 722.1102
  • Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
  • Deposition: An oral statement made before an officer authorized by law to administer oaths. Such statements are often taken to examine potential witnesses, to obtain discovery, or to be used later in trial.
  • Devise: To gift property by will.
  • Disseminate: means to sell, lend, give, exhibit, show, or allow to examine or to offer or agree to do the same. See Michigan Laws 722.686
  • Eligible export loan: means a loan by a participating financial institution located within this state the proceeds of which are restricted to the financing of eligible export transactions. See Michigan Laws 447.152
  • Eligible export transaction: means the sale of goods or services, or the development of goods or services for sale, outside of the United States by a person doing business in this state, which goods or services, in the judgment of the authority, have a substantial portion of their value created within this state and which sale or development, in the judgment of the authority, creates or maintains employment in this state. See Michigan Laws 447.152
  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • Export insurance: means insurance made available by the authority to protect an exporter against a foreign buyer's failure to pay for goods or services for political or commercial reasons. See Michigan Laws 447.152
  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
  • Freedom of Information Act: A federal law that mandates that all the records created and kept by federal agencies in the executive branch of government must be open for public inspection and copying. The only exceptions are those records that fall into one of nine exempted categories listed in the statute. Source: OCC
  • Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
  • Grant: means an amount of money provided by the authority to a nonprofit organization. See Michigan Laws 447.152
  • Guarantee: means a guarantee against loss, in whole or in part, of principal of and interest on an eligible export loan. See Michigan Laws 447.152
  • Guarantee amount: means the maximum amount payable under a guarantee which amount shall be specifically set forth in writing at the time the guarantee is entered into by the authority. See Michigan Laws 447.152
  • 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.
  • Harmful to minors: means having all of the following characteristics:
  (i) Considered as a whole, appeals to the morbid interest in asocial, aggressive behavior of minors as determined by contemporary local community standards. See Michigan Laws 722.686
  • 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.
  • 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
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
  • Majority leader: see Floor Leaders
  • Minor: means a person less than 17 years of age. See Michigan Laws 722.686
  • Modification: means a child-custody determination that changes, replaces, supersedes, or is otherwise made after a previous child-custody determination concerning the same child, whether or not it is made by the court that made the previous child-custody determination. See Michigan Laws 722.1102
  • National Bank: A bank that is subject to the supervision of the Comptroller of the Currency. The Office of the Comptroller of the Currency is a bureau of the U.S. Treasury Department. A national bank can be recognized because it must have "national" or "national association" in its name. Source: OCC
  • Oath: A promise to tell the truth.
  • oath: shall be construed to include the word "affirmation" in all cases where by law an affirmation may be substituted for an oath; and in like cases the word "sworn" shall be construed to include the word "affirmed". See Michigan Laws 8.3k
  • 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.
  • Participating financial institution: means a bank as defined by the banking code of 1999, 1999 PA 276, MCL 487. See Michigan Laws 447.152
  • 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: may extend and be applied to bodies politic and corporate, as well as to individuals. See Michigan Laws 8.3l
  • Person: means an individual, corporation, business trust, estate, trust, partnership, limited liability company, association, joint venture, or government; governmental subdivision, agency, or instrumentality; public corporation; or any other legal or commercial entity. See Michigan Laws 722.1102
  • Person acting as a parent: means a person, other than a parent, who meets both of the following criteria:
    •   (i) Has physical custody of the child or has had physical custody for a period of 6 consecutive months, including a temporary absence, within 1 year immediately before the commencement of a child-custody proceeding. See Michigan Laws 722.1102
  • Personal property: All property that is not real property.
  • Physical custody: means the physical care and supervision of a child. See Michigan Laws 722.1102
  • Pleadings: Written statements of the parties in a civil case of their positions. In the federal courts, the principal pleadings are the complaint and the answer.
  • Public law: A public bill or joint resolution that has passed both chambers and been enacted into law. Public laws have general applicability nationwide.
  • Quorum: The number of legislators that must be present to do business.
  • Register: means to comply with the procedures of section 304 to make a child-custody determination enforceable in this state. See Michigan Laws 722.1102
  • Reporter: Makes a record of court proceedings and prepares a transcript, and also publishes the court's opinions or decisions (in the courts of appeals).
  • Service of process: The service of writs or summonses to the appropriate party.
  • State: means a state of the United States, the District of Columbia, Puerto Rico, the United States Virgin Islands, or a territory or insular possession subject to the jurisdiction of the United States. See Michigan Laws 722.1102
  • 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
  • Testify: Answer questions in court.
  • Testimony: Evidence presented orally by witnesses during trials or before grand juries.
  • Transcript: A written, word-for-word record of what was said, either in a proceeding such as a trial or during some other conversation, as in a transcript of a hearing or oral deposition.
  • Tribe: means an Indian tribe or band, or Alaskan native village, that is recognized by federal law or formally acknowledged by a state. See Michigan Laws 722.1102
  • Trustee: A person or institution holding and administering property in trust.
  • Ultra-violent explicit video game: means a video game that continually and repetitively depicts extreme and loathsome violence. See Michigan Laws 722.686
  • United States: shall be construed to include the district and territories. See Michigan Laws 8.3o
  • Video game: means an object or device that stores recorded data or instructions generated by a person who uses it, and by processing the data or instructions creates an interactive game capable of being played, viewed, or experienced on or through a computer, gaming system, game console, or other technology. See Michigan Laws 722.686