§ 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 - State Transmitter of Money Insurance Fund

  • Appraisal: A determination of property value.
  • 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.
  • Beverage: means carbonated soft drinks, water, beer, other malt beverages and a wine product as defined in subdivision thirty-six-a of section three of the alcoholic beverage control law. See
  • Board: means a facility siting board constituted pursuant to the provisions of section 27-1105 of this title. See
  • Claimant: when used in this article, means a purchaser or holder of a New York instrument. See N.Y. Banking Law 653
  • Commissioner: shall mean the commissioner of consumer and worker protection. See N.Y. New York City Administrative Code 20-102
  • Corporation: means the New York state environmental facilities corporation. See
  • Dealer: means every person, firm or corporation who engages in the sale of beverages in beverage containers to a consumer for off premises consumption in this state. See
  • Department: shall mean the department of consumer and worker protection. See N.Y. New York City Administrative Code 20-102
  • Disposal: means the abandonment, discharge, deposit, injection, dumping, spilling, leaking or placing of any substance so that such substance or any related constituent thereof may enter the environment. See
  • Distributor: means any person, firm or corporation which engages in the sale or offer for sale of beverages in beverage containers to a dealer. See
  • Environment: means any water, water vapor, any land including land surface or subsurface, air, fish, wildlife, biota and all other natural resources. See
  • 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
  • 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
  • Industrial hazardous waste: shall mean an industrial waste or combination of wastes, which because of its quantity, concentration, or physical, chemical or infectious characteristics may:

    a. See

  • 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
  • Municipality: means any town, city, county or village. See
  • 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
  • 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
  • Oral argument: An opportunity for lawyers to summarize their position before the court and also to answer the judges' questions.
  • 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 any individual, public or private corporation, political subdivision, government agency, industry, partnership, association, firm, trust, estate or any other legal entity whatsoever. See
  • Person: shall mean a natural person or an organization. See N.Y. New York City Administrative Code 20-102
  • 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
  • Redemption center: means any person offering to pay the refund value of an empty beverage container to a redeemer, or any person who contracts with one or more dealers or distributors to collect, sort and obtain the refund value and handling fee of empty beverage containers for, or on behalf of, such dealer or distributor under the provisions of section 27-1013 of this title. See
  • 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.
  • Storage: means the containment of hazardous waste, either on a temporary basis or for a period of years, in such a manner as not to constitute disposal of such hazardous waste. See
  • 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
  • Treatment: means any method, technique, or process including neutralization, designed to change the physical, chemical or biological character or composition of any hazardous waste so as to neutralize such waste or as to render such waste nonhazardous, safer for transport, amenable for recovery, amenable for storage, or reduced in volume. See
  • 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