§ 510 Definitions
§ 511 Unclaimed Property; When Deemed Abandoned
§ 512 Payment or Delivery of Abandoned Property
§ 513 Report to Accompany Payment or Delivery
§ 513-A Retention of Books and Records
§ 514 Reimbursement of Brokers or Dealers

Terms Used In New York Laws > Abandoned Property > Article 5-A

  • affirmed: In the practice of the appellate courts, the decree or order is declared valid and will stand as rendered in the lower court.
  • Amount: shall mean that term as defined in subdivision seven of section five hundred of this chapter. See N.Y. Abandoned Property Law 510
  • Broker: shall include any individual or corporation engaging in the purchase, sale or exchange of securities for or on behalf of any customer. See N.Y. Abandoned Property Law 510
  • contract: A legal written agreement that becomes binding when signed.
  • Corporation: shall include any joint stock company, corporation, association of two or more individuals, committee, public authority, or business trust. See N.Y. Abandoned Property Law 510
  • Customer: shall include any individual or corporation entering into a contract with a broker or dealer by which such broker or dealer agrees to effect the purchase, sale, or exchange, or to keep custody of any security for or on behalf of such individual or corporation. See N.Y. Abandoned Property Law 510
  • damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
  • Dealer: shall include any individual or corporation engaging in any state as a regular business in the purchase, sale or exchange of securities for his or its own account, through a broker or otherwise. See N.Y. Abandoned Property Law 510
  • 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.
  • fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
  • 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.
  • Security: shall include :

    (a) Any instrument issued by a corporation or public issuer to evidence an obligation to make any payment of the principal amount of a debt or of any increment due or to become due thereon, or

    (b) Any instrument issued by a corporation to evidence a proprietary interest therein except:

    (i) A policy of insurance issued by a mutual insurance corporation, or

    (ii) A share issued by a savings and loan association, a building and loan association, or a credit union. See N.Y. Abandoned Property Law 510

  • trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence.
  • Wages: shall include moneys payable, under contract or otherwise, for services rendered to a broker or dealer, less lawful deductions. See N.Y. Abandoned Property Law 510