Michigan Laws > Chapter 700 > Act 386 of 1998 > Article VII > Part 7 – Office of Trustee
Current as of: 2023 | Check for updates
|
Other versions
Terms Used In Michigan Laws > Chapter 700 > Act 386 of 1998 > Article VII > Part 7 - Office of Trustee
- Ability to pay: means the ability of a responsible party to pay for the cost of services, as determined by the department under section 818 and 819. See Michigan Laws 330.1800
- Agent: includes , but is not limited to, an attorney-in-fact under a durable or nondurable power of attorney and an individual authorized to make decisions as a patient advocate concerning another's health care. See Michigan Laws 700.1103
- Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
- Application: means a written request to the probate register for an order of informal probate or informal appointment under part 3 of article III. See Michigan Laws 700.1103
- Assessment: means the amount levied against an owner of a transient facility within an assessment district computed by application of the applicable percentage against aggregate room charges with respect to that transient facility during the applicable assessment period. See Michigan Laws 141.1322
- Assessment district: means a municipality or a combination of municipalities as described in a marketing program. See Michigan Laws 141.1322
- Assessment revenues: means the money derived from the assessment, including any interest and penalties on the assessment, imposed by this act. See Michigan Laws 141.1322
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Attorney: means , if appointed to represent a child under the provisions referenced in section 5213, an attorney serving as the child's legal advocate in the manner defined and described in section 13a of chapter XIIA of the probate code of 1939, 1939 PA 288, MCL 712A. See Michigan Laws 700.1103
- 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
- Beneficiary: includes , but is not limited to, the following:
(i) In relation to a trust, a person that is a trust beneficiary as defined in section 7103. See Michigan Laws 700.1103Board: means the board of directors of a bureau. See Michigan Laws 141.1322 Bureau: means a nonprofit corporation incorporated under the laws of this state existing solely to promote convention business and tourism within this state or a portion of this state and that complies with all of the following:
(i) Has not less than 200 dues-paying members, of which not fewer than 25 are owners of transient facilities. See Michigan Laws 141.1322Charitable trust: means a trust, or portion of a trust, created for a charitable purpose described in section 7405(1). See Michigan Laws 700.7103 Conservator: means a person appointed by a court to manage a protected individual's estate. See Michigan Laws 700.1103 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. Cost of services: means the total operating and capital costs incurred by the department or a community mental health services program with respect to, or on behalf of, an individual. See Michigan Laws 330.1800 County payment program: means the program authorized under chapter 192, 35 Stat. See Michigan Laws 141.1301 Court: means the probate court or, when applicable, the family division of circuit court. See Michigan Laws 700.1103 Department: means the department of natural resources. See Michigan Laws 141.1301 Director: means the director of the department. See Michigan Laws 141.1301 Director: means the chief executive officer of the Michigan economic development corporation or his or her designee. See Michigan Laws 141.1322 Discretionary trust provision: means a provision in a trust, regardless of whether the terms of the trust provide a standard for the exercise of the trustee's discretion and regardless of whether the trust contains a spendthrift provision, that provides that the trustee has discretion, or words of similar import, to determine 1 or more of the following:
(i) Whether to distribute to or for the benefit of an individual or a class of beneficiaries the income or principal or both of the trust. See Michigan Laws 700.7103Donee: The recipient of a gift. Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts 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: includes , but is not limited to, a personal representative, funeral representative, guardian, conservator, trustee, plenary guardian, partial guardian, and successor fiduciary. See Michigan Laws 700.1104 Financial institution: means an organization authorized to do business under state or federal laws relating to a financial institution and includes, but is not limited to, a bank, trust company, savings bank, building and loan association, savings and loan company or association, credit union, insurance company, and entity that offers mutual fund, securities brokerage, money market, or retail investment accounts. See Michigan Laws 700.1104 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. 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 Individual: means the individual, minor or adult, who receives services from the department or a community mental health services program or from a provider under contract with the department or a community mental health services program. See Michigan Laws 330.1800 Inpatient services: means 24-hour care and treatment services provided by a state facility or a licensed hospital. See Michigan Laws 330.1800 Insurance benefits: means payments made in accordance with insurance coverage for the cost of health care services provided to an individual. See Michigan Laws 330.1800 Insurance coverage: means any policy, plan, program, or fund established or maintained for the purpose of providing for its participants or their dependents medical, surgical, or hospital benefits. See Michigan Laws 330.1800 Interests of the trust beneficiaries: means the beneficial interests provided in the terms of the trust. See Michigan Laws 700.7103 Issue: means an individual's descendant. See Michigan Laws 700.1105 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. Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity. Lien: A claim against real or personal property in satisfaction of a debt. Marketing program: means a program established by a bureau to develop, encourage, solicit, and promote convention business and tourism within this state or a portion of this state within which the bureau operates. See Michigan Laws 141.1322 Marketing program notice: means the notice described in section 3. See Michigan Laws 141.1322 Master plan: means the comprehensive, long-range master plan developed by the Michigan travel commission and the travel bureau under section 2c of the Michigan tourism policy act, 1945 PA 106, MCL 2. See Michigan Laws 141.1322 Money: means legal tender or a note, draft, certificate of deposit, stock, bond, check, or credit card. See Michigan Laws 700.1106 month: means a calendar month; the word "year" a calendar year; and the word "year" alone shall be equivalent to the words "year of our Lord". See Michigan Laws 8.3j Municipality: means a city, county, village, or township. See Michigan Laws 141.1322 National forest: means federally owned land for which money is paid to the state under the county payment program, as that land is situated on June 30 of the fiscal year for which the money is paid. See Michigan Laws 141.1301 Nonresidential services: means care or treatment services that are not inpatient or residential services. See Michigan Laws 330.1800 Organization: means a corporation, business trust, estate, trust, partnership, limited liability company, association, or joint venture; governmental subdivision, agency, or instrumentality; public corporation; or another legal or commercial entity. See Michigan Laws 700.1106 Oversight: Committee review of the activities of a Federal agency or program. Owner: means the owner of a transient facility located within the assessment district or, if the transient facility is operated or managed by a person other than the owner, then the operator or manager of that transient facility. See Michigan Laws 141.1322 Parents: means the legal father and mother of an unmarried individual who is less than 18 years of age. See Michigan Laws 330.1800 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 Personal property: All property that is not real property. Petition: means a written request to the court for an order after notice. See Michigan Laws 700.1106 Proceeding: includes an application and a petition, and may be an action at law or a suit in equity. See Michigan Laws 700.1106 Property: means anything that may be the subject of ownership, and includes both real and personal property or an interest in real or personal property. See Michigan Laws 700.1106 Public law: A public bill or joint resolution that has passed both chambers and been enacted into law. Public laws have general applicability nationwide. Residential services: means 24-hour dependent care and treatment services provided by adult foster care facilities under contract to the department or a community mental health services program or provided directly by a community mental health services program. See Michigan Laws 330.1800 Responsible party: means a person who is financially liable for services furnished to the individual. See Michigan Laws 330.1800 Revocable trust: A trust agreement that can be canceled, rescinded, revoked, or repealed by the grantor (person who establishes the trust). Room: means a room or other space provided for sleeping, including the furnishings and other accessories in the room. See Michigan Laws 141.1322 Room charge: means the charge imposed for the use or occupancy of a room, excluding charges for food, beverages, state use tax, telephone service or like services paid in connection with the charge, and reimbursement of the assessment imposed by this act. See Michigan Laws 141.1322 Security: includes , but is not limited to, a note, stock, treasury stock, bond, debenture, evidence of indebtedness, certificate of interest or participation in an oil, gas, or mining title or lease or in payments out of production under such a title or lease, collateral trust certificate, transferable share, voting trust certificate, or interest in a regulated investment company or other entity generally referred to as a mutual fund or, in general, an interest or instrument commonly known as a security, or a certificate of interest or participation for, a temporary or interim certificate, receipt, or certificate of deposit for, or any warrant or right to subscribe to or purchase any of the items listed in this subdivision. See Michigan Laws 700.1107 Settlor: means a person, including a testator or a trustee, who creates a trust. See Michigan Laws 700.7103 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 Successor: means a person, other than a creditor, who is entitled to property of a decedent under the decedent's will or this act. See Michigan Laws 700.1107 terms of the trust: means the manifestation of the settlor's intent regarding a trust's provisions as expressed in the trust instrument or as may be established by other evidence that would be admissible in a judicial proceeding. See Michigan Laws 700.1107 Transient facility: means a building that contains 35 or more rooms used in the business of providing dwelling, lodging, or sleeping to transient guests, whether or not membership is required for the use of the rooms. See Michigan Laws 141.1322 Travel bureau: means the Michigan travel bureau created under section 2a of the Michigan tourism policy act, 1945 PA 106, MCL 2. See Michigan Laws 141.1322 Trust: includes , but is not limited to, an express trust, private or charitable, with additions to the trust, wherever and however created. See Michigan Laws 700.1107 Trust beneficiary: means a person to whom 1 or both of the following apply:
(i) The person has a present or future beneficial interest in a trust, vested or contingent. See Michigan Laws 700.7103Trust director: means that term as defined in section 7703a. See Michigan Laws 700.7103 Trust instrument: means a governing instrument that contains the terms of the trust, including any amendment to a term of the trust. See Michigan Laws 700.7103 Trustee: A person or institution holding and administering property in trust. Trustee: includes an original, additional, or successor trustee, whether or not appointed or confirmed by the court. See Michigan Laws 700.1107 United States: shall be construed to include the district and territories. See Michigan Laws 8.3o Use tax: means the tax imposed under the use tax act, 1937 PA 94, MCL 205. See Michigan Laws 141.1322 Venue: The geographical location in which a case is tried.