{"data":{"id":"us-mi/mich.-comp.-laws-38.1212","jurisdiction":"us-mi","citation":"Mich. Comp. Laws § 38.1212","heading":"Definitions.","body":"Sec. 2.\n\nAs used in this act:\n\n(a) \"Bankruptcy trust\" means a trust created by a court order, including a plan for adjustment.\n\n(b) \"Bankruptcy trust beneficiary\" means an individual who is eligible to receive health care benefits under a bankruptcy trust.\n\n(c) \"Board of trustees\" or \"board\" means the governing board of a bankruptcy trust.\n\n(d) \"Fund\" means a public employee health care fund created under this act or a court order, including a plan for adjustment, and used for the accumulation and investment of funds for the purpose of funding health care for retired employees of the public corporation.\n\n(e) \"Investment fiduciary\" means a person who does any of the following:\n\n( i ) Exercises any discretionary authority or control in the investment of the fund's or trust's assets.\n\n( ii ) Renders investment advice to a fund or trust for a fee or other direct or indirect compensation.\n\n(f) \"Plan for adjustment\" means a plan for the adjustment of debts entered and approved by a federal bankruptcy court for a public corporation.\n\n(g) \"Public corporation\" means a county, city, village, township, authority, district, board, or commission in this state.\n\n(h) \"Qualified person\" means an individual who is eligible to receive health care benefits and who is designated as a qualified person by the public corporation.\n\n(i) \"Trust\" means a trust created under the authority of a state or federal law for the purpose of funding retiree health care benefits.","path":["MI Code","Chapter 38","Act Act-149-of-1999"],"source_url":"https://www.legislature.mi.gov/Laws/MCL?objectName=mcl-38-1212","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:31Z","sha256":"c282fa159d42f114e02711c9ad4539919ef6a1130df9ac0f425b420b314966bc","source_id":"us-mi","stale":false,"prev":"us-mi/mich.-comp.-laws-38.1211","next":"us-mi/mich.-comp.-laws-38.1213"},"notice":"GroundRules: Original legal text. Not legal advice."}