Michigan Laws > Chapter 700 > Act 386 of 1998 > Article II > Part 10 – International Wills
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Terms Used In Michigan Laws > Chapter 700 > Act 386 of 1998 > Article II > Part 10 - International Wills
- Active business operations: means all business operations that are not inactive business operations. See Michigan Laws 129.292
- Appraisal: A determination of property value.
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Authorized individual: means an individual who by section 2959 or by the laws of the United States, including members of the diplomatic and consular service of the United States designated by foreign service regulations, is empowered to supervise the execution of international wills. See Michigan Laws 700.2951
- Business operations: means engaging in commerce in any form with a state sponsor of terror, including by acquiring, developing, maintaining, owning, selling, possessing, leasing, or operating equipment, facilities, personnel, products, services, personal property, real property, or any other apparatus of business or commerce. See Michigan Laws 129.292
- 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.
- Company: means any sole proprietorship, organization, association, corporation, partnership, joint venture, limited partnership, limited liability partnership, limited liability company, or other entity or business association, including all wholly owned subsidiaries, majority-owned subsidiaries, parent companies, or affiliates of those entities or business associations, that exists for profit-making purposes. See Michigan Laws 129.292
- 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.
- 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.
- Fiduciary: A trustee, executor, or administrator.
- Fiduciary: means any of the following:
(i) The Michigan legislative retirement system board of trustees for the Tier 1 retirement plan available under the Michigan legislative retirement system act, 1957 PA 261, MCL 38. See Michigan Laws 129.292in 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 Inactive business operations: means the mere continued holding or renewal of rights to property previously operated for the purpose of generating revenues but not presently deployed for that purpose. See Michigan Laws 129.292 International will: means a will executed in conformity with this part. See Michigan Laws 700.2951 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 or an organization. See Michigan Laws 700.1106 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, limited or general partnership, association, joint venture, limited liability company, or a governmental entity, including this state. See Michigan Laws 129.263 Personal property: All property that is not real property. Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land. Scrutinized company: means , except for a company described in subdivision (i), and for a social development company or a company that only meets the criteria of this subdivision because an independently owned franchisee of that company is a scrutinized company, any company that has business operations that involve contracts with or provision of supplies or services to a state sponsor of terror; companies in which a state sponsor of terror has any direct or indirect equity share, consortiums, or projects commissioned by a state sponsor of terror; or companies involved in consortiums and projects commissioned by a state sponsor of terror and 1 or more of the following:
(i) More than 10% of the company's total revenues or assets are directly invested in or earned from or significantly contributed to a state sponsor of terror and the company has failed to take substantial action. See Michigan Laws 129.292shall not apply: means that the pertinent provision is not operative as to certain persons or things or in conjunction with a particular date or dates. See Michigan Laws 8.4c Social development company: means a company licensed by the United States department of treasury pursuant to the federal trade sanction reform and export enhancement act of 2000, P. See Michigan Laws 129.292 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: means a state of the United States, the District of Columbia, the Commonwealth of Puerto Rico, or a territory or insular possession subject to the jurisdiction of the United States. See Michigan Laws 700.1107 State sponsor of terror: means , subject to section 10 as to applicability, any country determined by the United States Secretary of State to have repeatedly provided support for acts of international terrorism. See Michigan Laws 129.292 Substantial action: means adopting, publicizing, and implementing a formal plan to cease scrutinized business operations within 1 year and to refrain from any new business operations. See Michigan Laws 129.292 Testator: A male person who leaves a will at death. Testator: includes an individual of either gender. See Michigan Laws 700.1107 United States: shall be construed to include the district and territories. See Michigan Laws 8.3o