Michigan § 487.1104 - Definitions; A to C.
Full text of Michigan Michigan Compiled Laws § 487.1104 — Definitions; A to C., with citation guidance and answers to common questions.
§ 487.1104. Definitions; A to C.
(1) "Affiliate" means, if used with respect to a specified person other than a natural person, a person controlling or controlled by that specified person, or a person controlled by a person that also controls the specified person.
(2) "BIDCO" means a business and industrial development company licensed under this act. The term includes a business development enterprise.
(3) "Business development enterprise" means a business and industrial development company that meets all of the following:
(a) Has as part of its business plan the objective of providing public benefit.
(b) Is licensed under this act.
(c) Is designated as a qualified business development enterprise by the Michigan strategic fund under section 304.
(4) "Business firm" means a person that transacts business on a regular and continual basis, or a person that proposes to transact business on a regular and continual basis.
(5) "Commissioner" means the commissioner of the office of financial and insurance regulation in the department of licensing and regulatory affairs.
(6) "Control" means, if used with respect to a specified person, the power to direct or cause the direction of, directly or indirectly through 1 or more intermediaries, the management and policies of that specified person, whether by contract, other than a commercial contract for goods or nonmanagement services, or otherwise. A natural person is not considered to control a person solely because he or she is a director, officer, manager, or employee of that person. A person that, directly or indirectly, has the power to vote or direct the voting of 20% or more of the total ownership vote is rebuttably presumed to control that entity.
(7) "Controlling person" means, if used with respect to a specified person, a person that controls that specified person, directly or indirectly through 1 or more intermediaries.
Frequently Asked Questions About Michigan § 487.1104
What does Michigan Compiled Laws § 487.1104 cover?
Section 487.1104 ("Definitions; A to C.") is part of the Michigan Compiled Laws, the codified statutory law of Michigan. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Michigan § 487.1104?
A common citation format is "Michigan Compiled Laws § 487.1104" (Michigan). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Michigan law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Michigan official source linked on this page or consult a licensed Michigan attorney.
How does Michigan § 487.1104 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Michigan can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Michigan.