Terms Used In New York Laws > Agriculture and Markets > Article 18 - Wood Products Development

• Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
• comptroller: means the comptroller of the state of New York with respect to the state university or the appropriate fiscal officer with respect to other employers. See N.Y. Education Law 398
• Contract: A legal written agreement that becomes binding when signed.
• Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
• employee: means a person employed by the state university, the board of higher education of the city of New York, or a community college established and operated under article one hundred twenty-six of this chapter. See N.Y. Education Law 398
• employer: means the state university of New York, the board of higher education of the city of New York, or a community college established and operated under article one hundred twenty-six of this chapter. See N.Y. Education Law 398
• insurer: means a life insurance corporation or other corporation subject to department of financial services supervision. See N.Y. Education Law 398
• Minority leader: See Floor Leaders
• salary: means that amount fixed by or pursuant to law and paid by or for an employer to an employee as compensation for services rendered by the employee to the employer. See N.Y. Education Law 398