§ 653 Definitions
§ 654 Purpose of the Fund
§ 655 Maximum Amount of Insurance
§ 656 Claims Against the Fund
§ 657 Payments to the Fund
§ 658 General Powers of the Fund; Administration of the Fund
§ 659 Rules and Regulations

Terms Used In New York Laws > Banking > Article 13-C

  • 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.
  • Claimant: when used in this article, means a purchaser or holder of a New York instrument. See N.Y. Banking Law 653
  • Department: means the department of environmental conservation. See N.Y. Environmental Conservation Law 23-0101
  • Federal insuring agency: when used in this article, means the Federal Deposit Insurance Corporation or the National Credit Union Administration. See N.Y. Banking Law 653
  • Fund: when used in this article, means the state transmitter of money insurance fund as provided for in this article. See N.Y. Banking Law 653
  • Gas: means all natural, manufactured, mixed, and byproduct gas, and all other hydrocarbons not defined as oil in this section. See N.Y. Environmental Conservation Law 23-0101
  • Holder: when used in this article, means a person, other than a purchaser, who is either (i) in possession of a New York instrument and is the named payee thereon, or (ii) in possession of a New York instrument issued or endorsed to him or bearer or in blank; provided, however, that no person who is in possession of a lost, stolen or forged New York instrument or who is in possession of a New York instrument by virtue of the fact that he is the surety on a bond required by subdivision one of section six hundred forty-three of this chapter or is a receiver or trustee, whether in bankruptcy or otherwise, for an uninsured transmitter of money shall be deemed a "holder" thereof. See N.Y. Banking Law 653
  • Liquefied natural or petroleum gas facility: means any structure or facility which is used for the storage or confinement of liquefied natural or petroleum gas, or for the conversion of liquefied natural or petroleum gas into natural gas. See N.Y. Environmental Conservation Law 23-1705
  • National Bank: A bank that is subject to the supervision of the Comptroller of the Currency. The Office of the Comptroller of the Currency is a bureau of the U.S. Treasury Department. A national bank can be recognized because it must have "national" or "national association" in its name. Source: OCC
  • Natural gas: means natural or petroleum gas in a non-liquid or gaseous state, whether under pressure or otherwise, and whether or not the product of conversion from liquefied natural gas or liquefied petroleum gas. See N.Y. Environmental Conservation Law 23-1705
  • New York instrument: means a money order, check, draft or other instrument or document for the transmission or payment of money, or which evidences an obligation for the transmission or payment of money, or which evidences the purchase or deposit of funds for the purchase of any such instrument or document, sold in New York, but shall not include a New York traveler's check. See N.Y. Banking Law 653
  • Non-conforming facility: means a liquefied natural or petroleum gas facility in actual use and operation on September first, nineteen hundred seventy-six which is exempted from the requirements of section 23-1707 but is subject to the requirements of section 23-1719. See N.Y. Environmental Conservation Law 23-1705
  • 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.
  • Permit: means an environmental safety permit issued by the department pursuant to this title. See N.Y. Environmental Conservation Law 23-1705
  • Person: means and includes any natural person, corporation, association, partnership, receiver, trustee, executor, administrator, guardian, fiduciary, or other representative of any kind, and includes any department, agency or instrumentality of the state or any of its governmental subdivisions. See N.Y. Environmental Conservation Law 23-0101
  • Product: means any commodity made from oil or gas and includes refined crude oil, crude tops, topped crude, processed crude, processed crude petroleum, residue from crude petroleum, cracking stock, uncracked fuel oil, fuel oil, treated crude oil, residuum, gas oil, casinghead gasoline, natural-gas gasoline, kerosene, benzine, wash oil, waste oil, blended gasoline, lubricating oil, blends or mixtures of oil with one or more liquid products or by-products derived from oil or gas, and blends or mixtures of two or more liquid products or by-products derived from oil or gas, whether herein enumerated or not. See N.Y. Environmental Conservation Law 23-0101
  • Purchaser: means a person who buys or has bought a New York instrument from an uninsured transmitter of money or agent thereof. See N.Y. Banking Law 653
  • Transmitter of money: means a licensee, as such term is defined in subdivision two of section six hundred forty of this chapter, a bank, trust company, private banker, savings bank and savings and loan association, a credit union, foreign banking corporation licensed pursuant to article two of this chapter and any investment company which either directly or through agents transacts the business in this state of selling or issuing New York instruments. See N.Y. Banking Law 653
  • Uninsured transmitter of money: means a transmitter of money other than a banking organization, whose New York instruments are uninsured by a federal insuring agency. See N.Y. Banking Law 653