Find Laws Find Lawyers Free Legal Forms USA State Laws

MICHIGAN STATUTES AND CODES

Section 38.1132b - Definitions; D to F.

PUBLIC EMPLOYEE RETIREMENT SYSTEM INVESTMENT ACT (EXCERPT)
Act 314 of 1965

38.1132b Definitions; D to F.

Sec. 12b.

(1) “Defined contribution plan” means a defined contribution plan as defined in section 414(i) in the internal revenue code.

(2) “Derivative” means either of the following:

(a) A contract or convertible security that changes in value in concert with a related or underlying security, future, or other instrument or index; or obtains much of its value from price movements in a related or underlying security, future, or other instrument or index; or both.

(b) A contract or security, such as an option, forward, swap, warrant, or a debt instrument with 1 or more options, forwards, swaps, or warrants embedded in it or attached to it, the value of which contract or security is determined in whole or in part by the price of 1 or more underlying instruments or markets.

(3) “Equity interests” means limited partnership interests and other interests in which the liability of the investor is limited to the amount of the investment, but does not mean general partnership interests or other interests involving general liability of the investor.

(4) “Foreign security” means any of the following:

(a) A fixed income security issued by a government, a governmental agency, or a public or private company that is traded outside of the United States and issued in a currency other than the United States dollar.

(b) An equity position in a company traded on an exchange outside of the United States or a security issued in a currency other than the United States dollar or an unregistered American depository receipt.

(c) An equity or fixed income derivative that derives its value from an investment described in subdivision (a) or (b) or a foreign stock or bond index traded on an exchange outside of the United States.


History: Add. 1996, Act 485, Imd. Eff. Dec. 27, 1996 ;-- Am. 2000, Act 307, Imd. Eff. Oct. 16, 2000

Michigan Forms by Issue

Michigan Abortion Forms
Michigan Adoption Forms
Michigan Appeals Forms
Michigan Business Forms
Michigan Child Support Agency Forms
Michigan Children/Juvenile Forms
Michigan Court Forms
> Criminal
> DUI
> Probate
> Traffic
> Case Evaluation
> Civil (County)
> Civil (District)
> Claims
> Dispute
> Forfeiture
> Garnishment
> Personal Protection
> Probation
> Small Claims
> Substance Abuse
Michigan Emancipation Forms
Michigan Family Forms
Michigan Foreclosure Forms
Michigan Guardianship Forms
Michigan Gun Forms
Michigan Landlord/Tenant Forms
Michigan Marriage Forms
Michigan Name Change Forms
Michigan Other Forms
Michigan Tax Forms

Michigan Law

Michigan State Laws
    > Michigan Child Support
    > Michigan Gun Laws
    > Michigan Statutes
Michigan Court
    > Michigan Court of Appeals
Michigan Tax
    > Michigan State Tax
Michigan Labor Laws
    > Unemployment Michigan
Michigan State
    > Michigan Counties
    > Michigan Zip Codes
Michigan Agencies
    > Department of Human Services Michigan
    > Michigan Department of Corrections
    > Michigan Department of Education
    > Michigan State Police
    > Secretary of State Michigan

Michigan Court Map

Tips