# Mich. Comp. Laws § 554.905: Definitions; D to L

> Michigan · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_MI_C554_AAct-448-of-2014_S554.905

## Section

- **Citation:** Mich. Comp. Laws § 554.905
- **Heading:** Definitions; D to L
- **Jurisdiction:** Michigan
- **Kind:** Statutes
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** MI Code / Chapter 554 / Act Act-448-of-2014 / Section 554.905

## Text

Sec. 5.

As used in this act:

(a) "Department" means the department of licensing and regulatory affairs.

(b) "Disclosure statement" means a disclosure statement as required under section 19(1)(c) or that may be required by the department under section 25, as applicable.

(c) "Entrance fee" means money paid in a lump sum or installments or property transferred pursuant to a continuing care agreement before initiation of continuing care for 1 or more individuals and that confers the right to the continuing care.

(d) "Executive officer" means an individual holding executive power in an organization and generally responsible for the day-to-day operations of the organization, such as a chief executive officer, chief financial officer, or chief operating officer.

(e) "Initiation of continuing care" means the commencement of a member's right to possess a living unit in a continuing care community or the commencement of the actual provision of continuing care, whichever occurs first.

(f) "Life interest" means the right, upon payment of an entrance fee, to receive continuing care for life.

(g) "Living unit" means a physical space within a continuing care community set aside for the exclusive use or control of 1 or more specific members.

(h) "Long-term lease" means an agreement between a member and a continuing care community whereby the member has the right to occupy a space for more than 1 year but not for the life of the member.

History: 2014, Act 448, Eff. Apr. 2, 2015

## Nearby sections

- [Mich. Comp. Laws § 554.901 Short title.](https://www.frixlaw.com/law-library/statutes/STATE_MI_C554_AAct-448-of-2014_S554.901.md)
- [Mich. Comp. Laws § 554.903 Definitions; A to C.](https://www.frixlaw.com/law-library/statutes/STATE_MI_C554_AAct-448-of-2014_S554.903.md)
- [Mich. Comp. Laws § 554.905 Definitions; D to L.](https://www.frixlaw.com/law-library/statutes/STATE_MI_C554_AAct-448-of-2014_S554.905.md)
- [Mich. Comp. Laws § 554.907 Definitions; M to O.](https://www.frixlaw.com/law-library/statutes/STATE_MI_C554_AAct-448-of-2014_S554.907.md)
- [Mich. Comp. Laws § 554.909 Definitions; P to R.](https://www.frixlaw.com/law-library/statutes/STATE_MI_C554_AAct-448-of-2014_S554.909.md)
- [Mich. Comp. Laws § 554.911 Definitions; S.](https://www.frixlaw.com/law-library/statutes/STATE_MI_C554_AAct-448-of-2014_S554.911.md)
- [Mich. Comp. Laws § 554.913 Continuing care community; organization and operation; purpose; member to service in advisory capacity.](https://www.frixlaw.com/law-library/statutes/STATE_MI_C554_AAct-448-of-2014_S554.913.md)
- [Mich. Comp. Laws § 554.915 Continuing care agreement; registration or exemption required; applicability to written or oral arrangements; offer or sale; conditions; circumstances.](https://www.frixlaw.com/law-library/statutes/STATE_MI_C554_AAct-448-of-2014_S554.915.md)
- [Mich. Comp. Laws § 554.917 Rules; exemption; variance; area not considered home for the aged or adult foster care facility; relationship not subject to laws between landlord and tenant.](https://www.frixlaw.com/law-library/statutes/STATE_MI_C554_AAct-448-of-2014_S554.917.md)
- [Mich. Comp. Laws § 554.919 Initial registration; submission of information; missing or unreliable information; cost of investigation; deposit of payment; registration of 2 or more retirement communities as single continuing care community; consideration of opinions, appraisals, and reports of experts; electronic transmission of application and fee.](https://www.frixlaw.com/law-library/statutes/STATE_MI_C554_AAct-448-of-2014_S554.919.md)
- [Mich. Comp. Laws § 554.921 Incomplete application; notification; order approving or denying registration.](https://www.frixlaw.com/law-library/statutes/STATE_MI_C554_AAct-448-of-2014_S554.921.md)
- [Mich. Comp. Laws § 554.923 Effect of order approving or filing registration.](https://www.frixlaw.com/law-library/statutes/STATE_MI_C554_AAct-448-of-2014_S554.923.md)
- [Mich. Comp. Laws § 554.925 Renewal of registration; application form to be sent by department.](https://www.frixlaw.com/law-library/statutes/STATE_MI_C554_AAct-448-of-2014_S554.925.md)
- [Mich. Comp. Laws § 554.927 Application for registration renewal; processing; failure to submit application or fee; continuation of current registration; failure to file renewal application.](https://www.frixlaw.com/law-library/statutes/STATE_MI_C554_AAct-448-of-2014_S554.927.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_MI_C554_AAct-448-of-2014_S554.905. Check the current official text before relying on it. Not legal advice.