Terms Used In New York Laws > Not-for-Profit Corporation > Article 10 - Non-judicial Dissolution

• Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
• Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
• Arrest: Taking physical custody of a person by lawful authority.
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Commissioner: includes the office and a branch office of the commissioner and, when authorized to receive a document or fee as agent of the commissioner, the clerk of a county. See N.Y. Vehicle and Traffic Law 2101
• Conviction: A judgement of guilt against a criminal defendant.
• 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.
• Counterclaim: A claim that a defendant makes against a plaintiff.
• Dealer: means a person registered as a dealer under section four hundred fifteen or twenty-two hundred fifty-seven of this chapter. See N.Y. Vehicle and Traffic Law 2101
• Donor: The person who makes a gift.
• Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
• Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
• Grantor: The person who establishes a trust and places property into it.
• Identifying number: means the numbers, and letters if any, on a vehicle designated by the commissioner for the purpose of identifying the vehicle. See N.Y. Vehicle and Traffic Law 2101
• Implement of husbandry: means a vehicle designed and adapted exclusively for agricultural, horticultural or livestock raising operations or for lifting or carrying an implement of husbandry and in either case not subject to registration if used upon the highways. See N.Y. Vehicle and Traffic Law 2101
• Judgement: The official decision of a court finally determining the respective rights and claims of the parties to a suit.
• Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
• Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). ^{Source: OCC}
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• Lien: A claim against real or personal property in satisfaction of a debt.
• Lienholder: means a person holding a security interest in a vehicle. See N.Y. Vehicle and Traffic Law 2101
• Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
• mail: means to deposit in the United States mail properly addressed and with postage prepaid. See N.Y. Vehicle and Traffic Law 2101
• Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
• Owner: means a person, other than a lienholder, having the property in or title to a vehicle. See N.Y. Vehicle and Traffic Law 2101
• Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
• Person: means a natural person, firm, co-partnership, association or corporation. See N.Y. Vehicle and Traffic Law 2101
• Pole trailer: means a vehicle without motive power designed to be drawn by another vehicle and attached to the towing vehicle by means of a reach, or pole, or by being boomed or otherwise secured to the towing vehicle, and ordinarily used for transporting long or irregularly shaped loads such as logs, poles, pipes, or structural members capable, generally, of sustaining themselves as beams between the supporting connections. See N.Y. Vehicle and Traffic Law 2101
• Quorum: The number of legislators that must be present to do business.
• Security interest: means an interest in a vehicle reserved or created by agreement and which secures payment or performance of an obligation. See N.Y. Vehicle and Traffic Law 2101
• Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
• Special mobile equipment: means a vehicle not designed for the transportation of persons or property upon a highway and only incidentally operated or moved over a highway, which if registered would be registered pursuant to schedule F of subdivision seven of section four hundred one of this chapter. See N.Y. Vehicle and Traffic Law 2101
• State: means a state, territory or possession of the United States, the District of Columbia, the Commonwealth of Puerto Rico, or a province of the Dominion of Canada. See N.Y. Vehicle and Traffic Law 2101
• Statute: A law passed by a legislature.
• Statute of limitations: A law that sets the time within which parties must take action to enforce their rights.
• Testator: A male person who leaves a will at death.
• Trustee: A person or institution holding and administering property in trust.
• Vehicle: means a vehicle as defined in section one hundred fifty-nine of this chapter except that it shall not include a device for which a registration is denied pursuant to section four hundred-a of this chapter and, except with respect to section twenty-one hundred two of this article, shall also mean a vessel as defined in section twenty-two hundred fifty of this chapter. See N.Y. Vehicle and Traffic Law 2101