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In the property and casualty insurance industry, actual cash value (ACV) is a method of valuing insured property, or the value computed by that method. Actual cash value (ACV) is not equal to replacement cost value (RCV). Actual cash value is computed by subtracting depreciation from replacement cost. [1]
Common estimation techniques include the comparable sales method, the depreciated cost method, and an income method approach. Property owners may also declare a value, which is subject to change by the tax assessor. Once the value is determined, the assessor typically notifies the last known property owner of the value determination.
The modified cash basis of accounting, combines elements of both accrual and cash basis accounting. Some forms of the modified cash basis record income when it is earned but deductions when expenses are paid out. In other words, the recording of income is on an accrual basis, while the recording of expenses is on the cash basis. The modified ...
The Michigan Supreme Court said Monday that its 2020 decision stopping local governments from keeping cash windfalls from the sale of foreclosed homes can be applied retroactively, meaning that ...
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The West publication is Michigan Compiled Laws Annotated (MCLA); the LexisNexis version is the Michigan Compiled Laws Service (MCLS). Until the year 2000, an alternate codification known as the Michigan Statutes Annotated (MSA), which differed from the MCL in both its organization and numbering system, was also in use. Until the discontinuation ...
Modified-release dosage is a mechanism that (in contrast to immediate-release dosage) delivers a drug with a delay after its administration (delayed-release dosage) or for a prolonged period of time (extended-release [ER, XR, XL] dosage) or to a specific target in the body (targeted-release dosage).
On March 18, 2015, Snyder signed an executive order to form the Michigan Agency for Energy with in LARA in 60 days. [7] On January 17, 2013, Governor Snyder ordered that the Office of Financial and Insurance Regulation be transferred out of the department to form a new Michigan Department of Insurance and Financial Services effective March 19 ...
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