Mich. Admin. Code R. 400.7005 - Definitions; I to P

Rule 5. As used in these rules:

(a) "Income" means all earned or unearned monies that are received by a client.

(b) "Infant burial allowance" means the maximum amount that may be approved for the burial, cremation, or other disposition of a child who is less than 1 month of age, a fetus, or a limb.

(c) "Market value," with respect to an asset, means the price that the owner would receive if he or she disposed of the asset on short notice, possibly without the opportunity to realize the full potential on his or her investment in the asset.

(d) "Noncash assets" means assets that are not cash assets.

(e) "Potential resource" means an asset or income that may be available to a client if action is taken to make the asset or income available.

(f) "Protected cash asset limit" means the maximum total combined cash assets that the members of a relief group which is eligible with respect to cash assets may own.

(g) "Protected noncash asset limit" means the maximum total combined noncash assets that the members of a relief group which is eligible with respect to noncash assets may own.

Notes

Mich. Admin. Code R. 400.7005

1993 AACS