Terms Used In New York Laws > Social Services > Article 2-A > Title 4 - Homelessness Intervention Program

• Adoption date: means the date the board of directors of the mutual life insurer adopts the plan of reorganization. See N.Y. Insurance Law 8001
• 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.
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• 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.
• Dependent: A person dependent for support upon another.
• Effective date: means , in the case of the reorganization of a mutual life insurer, the date upon which the reorganization of the mutual life insurer shall be effective in accordance with section eight thousand nine of this article as a result of reorganization proceedings pursuant to this article. See N.Y. Insurance Law 8001
• Fiduciary: A trustee, executor, or administrator.
• 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}
• member: means a member of such mutual holding company as provided in subsection (c) of section eight thousand seventeen of this article. See N.Y. Insurance Law 8001
• Membership interests: means , with reference to an institution that is a mutual life insurer or a mutual holding company, the rights as members arising under the charter of such institution or this chapter or otherwise by law including the rights to vote and to participate in any distribution of the surplus of such institution, whether or not incident to a liquidation thereof. See N.Y. Insurance Law 8001
• Mutual holding company: means a corporation organized under section eight thousand seventeen of this article. See N.Y. Insurance Law 8001
• Mutual life insurer: means a domestic mutual life insurer. See N.Y. Insurance Law 8001
• Offer: includes every offer to buy or acquire, solicitation of an offer to sell, tender offer for, or request or invitation for tenders of a security or interest in a security for value. See N.Y. Insurance Law 8001
• 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 an individual, partnership, corporation, incorporated or unincorporated association, joint stock company, reciprocal, syndicate or any similar entity or combination of entities acting in concert. See N.Y. Insurance Law 7902
• Person: means an individual, partnership, firm, association, corporation, joint-stock company, limited liability company, limited liability partnership, trust, government or governmental agency, state or political subdivision thereof, public or private corporation, board, association, estate, trustee or fiduciary, any similar entity or any combination of the foregoing acting in concert. See N.Y. Insurance Law 8001
• plan: means a plan adopted by a mutual life insurer in compliance with this article. See N.Y. Insurance Law 8001
• Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
• Reorganized insurer: means the stock life insurer into which a mutual life insurer has been reorganized in accordance with the provisions of this article. See N.Y. Insurance Law 8001
• Reorganizing insurer: means , in the case of a plan of reorganization of a mutual life insurer under this article, the mutual life insurer that is reorganizing pursuant to such plan. See N.Y. Insurance Law 8001
• Stock holding company: means a corporation incorporated under the laws of any jurisdiction in the United States, at least fifty-one percent of the voting stock of which is owned, directly or through another stock holding company, by a mutual holding company and which holds, directly or indirectly, voting stock in at least one reorganized insurer. See N.Y. Insurance Law 8001
• Trustee: A person or institution holding and administering property in trust.
• Voting security: includes voting securities as defined in paragraph forty-five of subsection (a) of section one hundred seven of this chapter, any reorganization certificate or subscription (including subscription rights issued pursuant to a plan of reorganization), or any security convertible (with or without consideration) into any such security, or carrying any warrant or right to subscribe for or purchase any such security, or any such warrant or right. See N.Y. Insurance Law 8001
• Voting stock: means capital stock that constitutes voting securities as defined in paragraph forty-five of subsection (a) of section one hundred seven of this chapter. See N.Y. Insurance Law 8001