Terms Used In New York Laws > Banking > Article 2

• Chambers: A judge's office.
• Commissioner of finance: means the commissioner of finance of the city. See N.Y. New York City Administrative Code 11-1901
• Community Reinvestment Act: The Act is intended to encourage depository institutions to help meet the credit needs of the communities in which they operate, including low- and moderate-income neighborhoods. It was enacted by the Congress in 1977. ^{Source: OCC}
• Docket: A log containing brief entries of court proceedings.
• Donee: The recipient of a gift.
• Federal Reserve System: The central bank of the United States. The Fed, as it is commonly called, regulates the U.S. monetary and financial system. The Federal Reserve System is composed of a central governmental agency in Washington, D.C. (the Board of Governors) and twelve regional Federal Reserve Banks in major cities throughout the United States. ^{Source: OCC}
• Forbearance: A means of handling a delinquent loan. A
• Legatee: A beneficiary of a decedent
• limited liability company: means a domestic limited liability company or a foreign limited liability company, as defined in section one hundred two of the limited liability company law, a limited liability investment company formed pursuant to section five hundred seven of the banking law, or a limited liability trust company formed pursuant to section one hundred two-a of the banking law. See N.Y. New York City Administrative Code 11-1901
• Mortgagor: The person who pledges property to a creditor as collateral for a loan and who receives the money.
• 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}
• Net earnings from self-employment: means the same as net earnings from self-employment as defined in subsection (a) of section fourteen hundred two of the internal revenue code, except that the deduction for wages and salaries paid or incurred for the taxable year which is not allowed pursuant to section two hundred eighty C of such code shall be allowed, and except that an estate or trust shall be deemed to have net earnings from self-employment determined in the same manner as if it were an individual subject to the tax on self-employment income imposed by section fourteen hundred one of the internal revenue code diminished by: (1) the amount of any deduction allowed by subsection (c) of section six hundred forty-two of the internal revenue code and (2) the deductions allowed by sections six hundred fifty-one and six hundred sixty-one of said code to the extent that they represent distributions or payments to a resident of the city. See N.Y. New York City Administrative Code 11-1901
• partnership: shall include , unless a different meaning is clearly required, a subchapter K limited liability company. See N.Y. New York City Administrative Code 11-1901
• Taxable year: means the taxpayer's taxable year for federal income tax purposes. See N.Y. New York City Administrative Code 11-1901
• this city: as used in this chapter means the city of New York; "tax commission" as used in this chapter means the tax commission of the state of New York; and "state" or "this state" as used in this chapter means the state of New York. See N.Y. New York City Administrative Code 11-1707
• This state: means the state of New York. See N.Y. New York City Administrative Code 11-1901
• Uniform Commercial Code: A set of statutes enacted by the various states to provide consistency among the states' commercial laws. It includes negotiable instruments, sales, stock transfers, trust and warehouse receipts, and bills of lading. ^{Source: OCC}
• Wages: means wages as defined in subsection (a) of section thirty-four hundred one of the internal revenue code, except that (1) wages shall not include payments for active service as a member of the armed forces of the United States and shall not include, in the case of a nonresident individual or partner of a partnership doing an insurance business as a member of the New York insurance exchange described in section six thousand two hundred one of the insurance law, any item of income, gain, loss or deduction of such business which is such individual's distributive or pro rata share for federal income tax purposes or which such individual is required to take into account separately for federal income tax purposes, and (2) wages shall include (i) the amount of member or employee contributions to a retirement system or pension fund picked up by the employer pursuant to subdivision f of section five hundred seventeen or subdivision d of section six hundred thirteen of the retirement and social security law or section 13-225. See N.Y. New York City Administrative Code 11-1901
• Writ: A formal written command, issued from the court, requiring the performance of a specific act.