Michigan Compiled Laws § 38.1132e Definitions; S.

38.1132e Definitions; S.

Sec. 12e.

(1) “Small business” means a corporation, partnership, sole proprietorship, or other entity which does not meet the specific requirements of investments permitted under this act.

(2) “Small business investment company” means an incorporated body or a limited partnership under section 301 of title III of the small business investment act of 1958, Public Law 85-699, 15 U.S.C. 681.

(3) “Soft dollar” means brokerage commissions that are used by the system to purchase goods or services.

(4) “Stock” means capital stock, common stock, preferred stock, American depository receipts, or any other evidence of residual ownership of a corporation.

(5) “System” means a public employee retirement system created and established by this state or any political subdivision of this state.

History: Add. 1996, Act 485, Imd. Eff. Dec. 27, 1996

Section: Previous  38.1121-38.1131  38.1132  38.1132a  38.1132b  38.1132c  38.1132d  38.1132e  38.1132f  38.1133  38.1133a  38.1133b-38.1133c  38.1133c  38.1133d  38.1133e  38.1133f  Next

Last modified: October 10, 2016