390.1231 Definitions. Sec. 1. As used in this act: (a) 'College' means a public institution of higher education in this state. (b) 'Contract' means an agreement between a college and a foreign entity for the acquisition, by purchase, lease, or barter, of property or services for the direct benefit or use of either of the parties. (c) 'Department' means the department of management and budget. (d) 'Fiscal quarter' means a 3-month period ending on January 31, April 30, July 31, or October 31. (e) 'Foreign entity' means a nonresident alien, a corporation, foundation, or association whose principal place of business is outside of the United States, a foreign government, an agency or subdivision of a foreign government, or an agent registered under the foreign agent's registration act, 22 U.S.C. 611 to 621, when acting in that capacity. (f) 'Grant' means a gift or donation of money or property, or any combination of these, which in any 1 year exceeds $100,000.00 made by a foreign entity. History: 1986, Act 90, Imd. Eff. May 1, 1986
Michigan Legal Code