Terms Used In New York Laws > Banking > Article 12-C - Budget Planners

• Affirmed: In the practice of the appellate courts, the decree or order is declared valid and will stand as rendered in the lower court.
• Annual percentage rate: The cost of credit at a yearly rate. It is calculated in a standard way, taking the average compound interest rate over the term of the loan so borrowers can compare loans. Lenders are required by law to disclose a card account's APR. ^{Source: FDIC}
• Applicant: means that person making application to the department for a mining permit. See N.Y. Environmental Conservation Law 23-2705
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Attorney-at-law: A person who is legally qualified and licensed to practice law, and to represent and act for clients in legal proceedings.
• Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
• Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. ^{Source: OCC}
• Commissioner: shall mean the commissioner of consumer and worker protection. See N.Y. New York City Administrative Code 20-102
• Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
• Department: means the department of environmental conservation. See N.Y. Environmental Conservation Law 23-0101
• Department: shall mean the department of consumer and worker protection. See N.Y. New York City Administrative Code 20-102
• Donor: The person who makes a gift.
• Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. ^{Source: U.S. Courts}
• Executor: A male person named in a will to carry out the decedent
• Field: means the general area underlaid by one or more pools. See N.Y. Environmental Conservation Law 23-0101
• Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
• Fraud: Intentional deception resulting in injury to another.
• Grantor: The person who establishes a trust and places property into it.
• Judgement: The official decision of a court finally determining the respective rights and claims of the parties to a suit.
• land affected by mining: means the sum of that surface area of land or land under water which: (i) has been disturbed by mining since April first, nineteen hundred seventy-five and not been reclaimed, and (ii) is to be disturbed by mining during the term of the permit to mine. See N.Y. Environmental Conservation Law 23-2705
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• License: shall mean an authorization by the department of consumer and worker protection to carry on various activities within its jurisdiction, which may take the form of a license, permit, registration, certification or such other form as is designated under law, regulation or rule. See N.Y. New York City Administrative Code 20-102
• Lien: A claim against real or personal property in satisfaction of a debt.
• Mine: means any excavation from which a mineral is to be produced for sale or exchange, or for commercial, industrial or municipal use; all haulageways and all equipment above, on or below the surface of the ground used in connection with such excavation, and all lands included in the life of the mine review by the department. See N.Y. Environmental Conservation Law 23-2705
• Mined land-use plan: means a document, consisting of a mining plan and a reclamation plan, which describes proposals for conduct of the applicant's mining operation and reclamation of the land to be mined to achieve the purposes of this title. See N.Y. Environmental Conservation Law 23-2705
• Mineral: means any naturally formed, usually inorganic, solid material located on or below the surface of the earth. See N.Y. Environmental Conservation Law 23-2705
• Mining: means the extraction of overburden and minerals from the earth; the preparation and processing of minerals, including any activities or processes or parts thereof for the extraction or removal of minerals from their original location and the preparation, washing, cleaning, crushing, stockpiling or other processing of minerals at the mine location so as to make them suitable for commercial, industrial, or construction use; exclusive of manufacturing processes, at the mine location; the removal of such materials through sale or exchange, or for commercial, industrial or municipal use; and the disposition of overburden, tailings and waste at the mine location. See N.Y. Environmental Conservation Law 23-2705
• Mining plan: means a description of the applicant's mining operation which shall include maps, plans, written materials and other documents as required by the department. See N.Y. Environmental Conservation Law 23-2705
• Oath: A promise to tell the truth.
• 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.
• Overburden: means all of the earth, vegetation and other materials which lie above or alongside a mineral deposit. See N.Y. Environmental Conservation Law 23-2705
• 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.
• Permittee: means any person who holds a valid mining permit from the department for the boundaries of the land identified in the mined land-use plan. See N.Y. Environmental Conservation Law 23-2705
• Person: shall mean a natural person or an organization. See N.Y. New York City Administrative Code 20-102
• Person: means any individual, public or private corporation, political subdivision, government agency, department or bureau of the state, municipality, industry, partnership, association, firm, trust, estate or any other legal entity whatsoever. See N.Y. Environmental Conservation Law 23-2705
• Person engaged in mining: means a person who is subject to this title but who is mining without a mining permit issued by the department. See N.Y. Environmental Conservation Law 23-2705
• Reclamation: means the conditioning of the affected land to make it suitable for any uses or purposes consistent with the provisions of this title. See N.Y. Environmental Conservation Law 23-2705
• Reclamation plan: means a description of operations to be performed by the applicant to reclaim the land to be mined over the life of the mine. See N.Y. Environmental Conservation Law 23-2705
• 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.
• 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.
• Spoil: means any waste material removed from its natural place in the process of mining and all waste material directly connected with the cleaning and preparation of any minerals. See N.Y. Environmental Conservation Law 23-2705
• Subpoena: A command to a witness to appear and give testimony.
• Tailings: means material of inferior quality or value resulting from the removal, preparation or processing of minerals. See N.Y. Environmental Conservation Law 23-2705
• Testimony: Evidence presented orally by witnesses during trials or before grand juries.
• Trustee: A person or institution holding and administering property in trust.
• Truth in Lending Act: The Truth in Lending Act is a federal law that requires lenders to provide standardized information so that borrowers can compare loan terms. In general, lenders must provide information on ^{Source: OCC}
• Waste: means

  a. See N.Y. Environmental Conservation Law 23-0101