Michigan Laws 570.542 – Definitions
Current as of: 2024 | Check for updates
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For purposes of this act:
(a) “Customer” means a person who causes a special tool builder to design, develop, manufacture, assemble for sale, or otherwise make a special tool for use in the design, development, manufacture, assembly, or fabrication of metal parts, or a person who causes an end user to use a special tool to design, develop, manufacture, assemble, or fabricate a metal product.
Terms Used In Michigan Laws 570.542
- 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.
- 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
(b) “End user” means a person who uses a special tool as part of his or her manufacturing process.
(c) “Special tool” means any tools, dies, jigs, gauges, gauging fixtures, special machinery, cutting tools, or metal castings manufactured by a special tool builder.
(d) “Special tool builder” means a person who designs, develops, manufactures, or assembles special tools for sale.
(e) “Person” means an individual, firm, partnership, association, corporation, limited liability company, or other legal entity.