This section defines key terms related to vehicle security interests, including 'security interest,' 'security agreement,' and 'secured party,' based on the uniform commercial code. It also clarifies the meaning of 'serious impairment of a body function' and provides a definition for 'semi-trailer.' These definitions are essential for understanding vehicle and security law in Michigan.
A 'security interest' is a legal claim on collateral to secure a loan, defined by the uniform commercial code as adopted in Michigan.
'Serious impairment' includes loss or significant impairment of limbs, organs, senses, or mental functions, or serious disfigurement or brain injury.
Semi-trailers are vehicles designed to carry persons or property, drawn by a motor vehicle, with some weight resting on another vehicle, excluding implement of husbandry.
These definitions are found in Michigan Vehicle Code sections 257.58b, 257.58c, and 257.59, referencing the uniform commercial code.