Mich. Comp. Laws § 4.412
This is the official text of Mich. Comp. Laws § 4.412, part of Michigan’s Comp. Laws — part of the compiled statutory law of Michigan, published by the state as "Comp. Laws." Browse the sections below, each linked to its official government source.
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Definitions generally.
Official statutory text
Sec. 2.
"Administrative action" means the proposal, drafting, development, consideration, amendment, enactment, or defeat of a nonministerial action or rule by an executive agency or an official in the executive branch of state government. Administrative action does not include a quasi-judicial determination as authorized by law.
"Business" means a corporation, partnership, sole proprietorship, firm, enterprise, franchise, association, organization, self-employed individual, holding company, joint stock company, receivership, trust, activity, or entity which is organized for profit or nonprofit purposes.
"Business with which the individual is associated" means a business in which any of the following applies:
The individual is a partner, director, officer, or employer.
A member of the individual's immediate family is a partner, director, officer, or employer.
The individual or a member of the individual's immediate family is a stockholder of close corporation stock worth $1,000.00 or more at fair market value or which represents more than 5% equity interest, or is a stockholder of publicly traded stock worth $10,000.00 or more at fair market value or which represents more than 10% equity interest. This subdivision does not apply to publicly traded stock under a trading account if the filer reports the name and address of the stockbroker.
"Compensation" means anything of monetary value received or to be received from a person, whether in the form of a fee, salary, forbearance, forgiveness, or another form of recompense.
History: 1978, Act 472, Imd. Eff. Oct. 19, 1978
"Administrative action" means the proposal, drafting, development, consideration, amendment, enactment, or defeat of a nonministerial action or rule by an executive agency or an official in the executive branch of state government. Administrative action does not include a quasi-judicial determination as authorized by law.
"Business" means a corporation, partnership, sole proprietorship, firm, enterprise, franchise, association, organization, self-employed individual, holding company, joint stock company, receivership, trust, activity, or entity which is organized for profit or nonprofit purposes.
"Business with which the individual is associated" means a business in which any of the following applies:
The individual is a partner, director, officer, or employer.
A member of the individual's immediate family is a partner, director, officer, or employer.
The individual or a member of the individual's immediate family is a stockholder of close corporation stock worth $1,000.00 or more at fair market value or which represents more than 5% equity interest, or is a stockholder of publicly traded stock worth $10,000.00 or more at fair market value or which represents more than 10% equity interest. This subdivision does not apply to publicly traded stock under a trading account if the filer reports the name and address of the stockbroker.
"Compensation" means anything of monetary value received or to be received from a person, whether in the form of a fee, salary, forbearance, forgiveness, or another form of recompense.
History: 1978, Act 472, Imd. Eff. Oct. 19, 1978
Status: in_force · Read it on the official government site
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