Michigan Laws > Chapter 500 > Act 218 of 1956 > Chapter 12 – Agents, Solicitors, Adjusters, and Counselors
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Terms Used In Michigan Laws > Chapter 500 > Act 218 of 1956 > Chapter 12 - Agents, Solicitors, Adjusters, and Counselors
- AED: means automated external defibrillator. See Michigan Laws 333.26311
- 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.
- After-care assistance: means assistance provided by a lay caregiver to a patient following the patient's discharge from a hospital that is related to the patient's condition at the time of discharge. See Michigan Laws 333.26283
- Agent of the insured: means an insurance producer who is not an appointed insurance producer of the insurer with which the insurance policy is placed. See Michigan Laws 500.1201
- Agent of the insurer: means an insurance producer who sells, solicits, or negotiates an application for insurance as a representative of the insurer and not the insured or the insured's beneficiary. See Michigan Laws 500.1201
- Allegation: something that someone says happened.
- Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
- Answer: The formal written statement by a defendant responding to a civil complaint and setting forth the grounds for defense.
- Assets: means all or part of the following that are associated with the institute and are subject to conveyance under this act:
(i) Real property, including all rights to coal, oil, gas, and other materials, and all rights to sand, gravel, clay, and other nonmetallic minerals, found on, within, or under real property conveyed under this act, except that the agreement for the conveyance of the assets and liabilities of the institute entered into under this act shall specify that the state shall receive not less than 1/2 of the net royalties from the development, if any, of coal, oil, gas, or other minerals on or under the real estate. See Michigan Laws 333.26333Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account. Attending physician: means that term as defined in section 20102 of the public health code, 1978 PA 368, MCL 333. See Michigan Laws 333.26283 Attorney-in-fact: A person who, acting as an agent, is given written authorization by another person to transact business for him (her) out of court. Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC Business entity: means a corporation, association, partnership, limited liability company, limited liability partnership, or other legal entity. See Michigan Laws 500.1201 Chair: means the chair of the commission. See Michigan Laws 333.26333 Commission: means the Michigan biologic products commission established by Executive Order 1995-25, pursuant to section 4 of article V of the state constitution of 1963, and by section 3b. See Michigan Laws 333.26333 Commissioner: means the director. See Michigan Laws 500.102 Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action. Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant. Continuance: Putting off of a hearing ot trial until a later time. Contract: A legal written agreement that becomes binding when signed. Conveyance: means sale, transfer, assignment, or other disposition. See Michigan Laws 333.26333 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. Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries. Department: means the department of public health. See Michigan Laws 333.26301 Department: means the department of community health. See Michigan Laws 333.26311 Department: means the department of insurance and financial services. See Michigan Laws 500.102 Director: means , unless the context clearly implies a different meaning, the director of the department. See Michigan Laws 500.102 Discharge: means a patient's exit or release from a hospital to the patient's residence following any medical care or treatment rendered to the patient following an inpatient admission. See Michigan Laws 333.26283 Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial. Educational athletic facility: means a facility that is owned or operated by an educational institution and that is used or intended to be used for 1 or more of the following:
(i) Maintaining or enhancing the aerobic condition or physical strength of 1 or more individuals. See Michigan Laws 333.26301Educational institution: means a public or private secondary school, trade school, vocational school, community or junior college, college, or university. See Michigan Laws 333.26301 Embezzlement: In most states, embezzlement is defined as theft/larceny of assets (money or property) by a person in a position of trust or responsibility over those assets. Embezzlement typically occurs in the employment and corporate settings. Source: OCC Entry: means a patient's admission into a hospital for the purposes of receiving inpatient medical care. See Michigan Laws 333.26283 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. Facility: means a building, structure, room, place, or area. See Michigan Laws 333.26301 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. Fiduciary: A trustee, executor, or administrator. 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. Fraud: Intentional deception resulting in injury to another. 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 good moral character: means good moral character as defined and determined under Act No. See Michigan Laws 500.1200 Grace period: The number of days you'll have to pay your bill for purchases in full without triggering a finance charge. Source: Federal Reserve grantee: may be construed as including every person to whom any such interest or estate passes in like manner. See Michigan Laws 8.3e 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. Health club: means an establishment that provides, as its primary purpose, services or facilities that are purported to assist patrons in physical exercise, in weight control, or in figure development, including, but not limited to, a fitness center, studio, salon, or club. See Michigan Laws 333.26311 Health insurance policy: means an expense-incurred hospital, medical, or surgical policy, certificate, or contract. See Michigan Laws 500.608 Hospital: means that term as defined in section 20106 of the public health code, 1978 PA 368, MCL 333. See Michigan Laws 333.26283 Hotel: means that term as defined in section 1 of Act No. See Michigan Laws 333.26301 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 Institute: means the Michigan biologic products institute established by Executive Order 1995-25, pursuant to section 4 of article V of the state constitution of 1963, and by section 3a. See Michigan Laws 333.26333 Insurance: means any of the lines of authority in chapter 6. See Michigan Laws 500.1201 Insurance producer: means a person required to be licensed under the laws of this state to sell, solicit, or negotiate insurance. See Michigan Laws 500.1201 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 Intangible property: Property that has no intrinsic value, but is merely the evidence of value such as stock certificates, bonds, and promissory notes. Interrogatories: Written questions asked by one party of an opposing party, who must answer them in writing under oath; a discovery device in a lawsuit. 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. lay caregiver: means an individual 18 years of age or older designated as a caregiver by a patient under this act who voluntarily provides after-care assistance to a patient in the patient's residence. See Michigan Laws 333.26283 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 Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity. License: means a document issued by the director authorizing a person to act as an insurance producer for the qualifications specified in the document. See Michigan Laws 500.1201 Limited line credit insurance: includes credit life, credit disability, credit property, credit unemployment, involuntary unemployment, mortgage life, mortgage guaranty, mortgage disability, guaranteed automobile protection insurance, and any other form of insurance offered in connection with an extension of credit that is limited to partially or wholly extinguishing that credit obligation that the director determines should be designated a form of limited line credit insurance. See Michigan Laws 500.1201 Limited lines insurance: means any of the following:
(i) Marine insurance as defined in section 614. See Michigan Laws 500.1201Mortgage: The written agreement pledging property to a creditor as collateral for a loan. Negotiate: means the act of conferring directly with or offering advice directly to a purchaser or prospective purchaser of a particular contract of insurance concerning any of the substantive benefits, terms, or conditions of the contract, if the person engaged in that act either sells insurance or obtains insurance from insurers for purchasers. See Michigan Laws 500.1201 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. 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. Patient advocate: means that term as described and used in section 5506 of the estates and protected individuals code, 1998 PA 386, MCL 700. See Michigan Laws 333.26283 Person: means an individual, partnership, corporation, association, governmental entity, or other legal entity. See Michigan Laws 333.26311 person: may extend and be applied to bodies politic and corporate, as well as to individuals. See Michigan Laws 8.3l Personal property: All property that is not real property. Pharmaceutical products fund: means the pharmaceutical products fund established under section 9112 of the public health code, MCL 333. See Michigan Laws 333.26333 Plaintiff: The person who files the complaint in a civil lawsuit. Practice of physical therapy: means that term as defined in section 17801 of the public health code, Act No. See Michigan Laws 333.26301 Probation: A sentencing alternative to imprisonment in which the court releases convicted defendants under supervision as long as certain conditions are observed. Public health code: means 1978 PA 368, MCL 333. See Michigan Laws 333.26333 Quorum: The number of legislators that must be present to do business. Rate: means the cost of insurance per payroll before adjustment for an individual insured's size, exposure, or loss experience. See Michigan Laws 500.2402 Real property: means all or a portion of the real property associated with the institute, more particularly described as follows:
(i) A parcel of land in the NE 1/4 of section 5, T4N, R2W, Ingham County, Michigan and more particularly described as commencing at the northeast corner of said section 5; thence N89°59'49"W 124. See Michigan Laws 333.26333Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land. Recreational athletic facility: means a gymnasium, fitness center, or health spa that is used or intended to be used to maintain or enhance the physical strength of individuals through the use of free weights or weight lifting machinery. See Michigan Laws 333.26301 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. Residence: means the dwelling that the patient considers to be his or her home. See Michigan Laws 333.26283 Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action. Sell: means to exchange a contract of insurance by any means, for money or its equivalent, on behalf of an insurance company. See Michigan Laws 500.1201 Service of process: The service of writs or summonses to the appropriate party. Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims. Solicit: means attempting to sell insurance or asking or urging a person to apply for a particular kind of insurance from a particular company. See Michigan Laws 500.1201 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 State administrative board: means the state administrative board created under 1921 PA 2, MCL 17. See Michigan Laws 333.26333 Statute: A law passed by a legislature. Subpoena: A command to a witness to appear and give testimony. Terminate: means the cancellation of the relationship between an insurance producer and the insurer or the termination of a producer's authority to transact insurance. See Michigan Laws 500.1201 Testify: Answer questions in court. Testimony: Evidence presented orally by witnesses during trials or before grand juries. United States: shall be construed to include the district and territories. See Michigan Laws 8.3o