Terms Used In New York Laws > Business Corporation > Article 6 - Shareholders

• Adjourn: A motion to adjourn a legislative chamber or a committee, if passed, ends that day's session.
• Advance payment: means a payment or payments made by a state agency to a not-for-profit organization for services rendered pursuant to a written directive or as the result of exercising an advance payment provision included in a contract or renewal contract. See N.Y. State Finance Law 179-Q
• Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
• Affirmed: In the practice of the appellate courts, the decree or order is declared valid and will stand as rendered in the lower court.
• Allegation: something that someone says happened.
• Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
• Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
• Answer: The formal written statement by a defendant responding to a civil complaint and setting forth the grounds for defense.
• Antique firearm: means :
  
  Any unloaded muzzle loading pistol or revolver with a matchlock, flintlock, percussion cap, or similar type of ignition system, or a pistol or revolver which uses fixed cartridges which are no longer available in the ordinary channels of commercial trade. See N.Y. Penal Law 265.00
• Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
• Appellate: About appeals; an appellate court has the power to review the judgement of another lower court or tribunal.
• Appraisal: A determination of property value.
• Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
• Armor piercing ammunition: means any ammunition capable of being used in pistols or revolvers containing a projectile or projectile core, or a projectile or projectile core for use in such ammunition, that is constructed entirely (excluding the presence of traces of other substances) from one or a combination of any of the following: tungsten alloys, steel, iron, brass, bronze, beryllium copper, or uranium. See N.Y. Penal Law 265.00
• Arrest: Taking physical custody of a person by lawful authority.
• Assault weapon: means
  
  (a) a semiautomatic rifle that has an ability to accept a detachable magazine and has at least one of the following characteristics:
  
  (i) a folding or telescoping stock;
  
  (ii) a pistol grip that protrudes conspicuously beneath the action of the weapon;
  
  (iii) a thumbhole stock;
  
  (iv) a second handgrip or a protruding grip that can be held by the non-trigger hand;
  
  (v) a bayonet mount;
  
  (vi) a flash suppressor, muzzle break, muzzle compensator, or threaded barrel designed to accommodate a flash suppressor, muzzle break, or muzzle compensator;
  
  (vii) a grenade launcher; or
  
  (b) a semiautomatic shotgun that has at least one of the following characteristics:
  
  (i) a folding or telescoping stock;
  
  (ii) a thumbhole stock;
  
  (iii) a second handgrip or a protruding grip that can be held by the non-trigger hand;
  
  (iv) a fixed magazine capacity in excess of seven rounds;
  
  (v) an ability to accept a detachable magazine; or
  
  (c) a semiautomatic pistol that has an ability to accept a detachable magazine and has at least one of the following characteristics:
  
  (i) a folding or telescoping stock;
  
  (ii) a thumbhole stock;
  
  (iii) a second handgrip or a protruding grip that can be held by the non-trigger hand;
  
  (iv) capacity to accept an ammunition magazine that attaches to the pistol outside of the pistol grip;
  
  (v) a threaded barrel capable of accepting a barrel extender, flash suppressor, forward handgrip, or silencer;
  
  (vi) a shroud that is attached to, or partially or completely encircles, the barrel and that permits the shooter to hold the firearm with the non-trigger hand without being burned;
  
  (vii) a manufactured weight of fifty ounces or more when the pistol is unloaded; or
  
  (viii) a semiautomatic version of an automatic rifle, shotgun or firearm;
  
  (d) a revolving cylinder shotgun;
  
  (e) a semiautomatic rifle, a semiautomatic shotgun or a semiautomatic pistol or weapon defined in subparagraph (v) of paragraph (e) of subdivision twenty-two of section 265. See N.Y. Penal Law 265.00
• Asset forfeiture: A procedure by which a person's property is seized to pay judgments levied by the court.
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
• Authorized depositor: means the comptroller with respect to linked deposits made by the comptroller and the commissioner of taxation and finance with respect to linked deposits made by the commissioner of taxation and finance. See N.Y. State Finance Law 213
• Automatic knife: includes a stiletto, a switchblade knife, a cane sword, a pilum ballistic knife, and a metal knuckle knife. See N.Y. Penal Law 265.00
• Bail: Security given for the release of a criminal defendant or witness from legal custody (usually in the form of money) to secure his/her appearance on the day and time appointed.
• 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}
• Bequest: Property gifted by will.
• Binary trigger system: means any device that, when installed in or attached to a semi-automatic firearm rifle, or shotgun causes that weapon to fire once when the trigger is pulled and again when the trigger is released. See N.Y. Penal Law 265.00
• Bump stock: means any device or instrument that increases the rate of fire achievable with a semi-automatic firearm, rifle or shotgun by using energy from the recoil of the weapon to generate a reciprocating action that facilitates repeated activation of the trigger. See N.Y. Penal Law 265.00
• Burst trigger system: means any device that, when installed in or attached to a semi-automatic firearm, rifle, or shot gun, allows that weapon to discharge two or more shots with a single pull or the trigger by altering the trigger reset. See N.Y. Penal Law 265.00
• Cane Sword: means a cane or swagger stick having concealed within it a blade that may be used as a sword or stilletto. See N.Y. Penal Law 265.00
• Census: means the decennial census performed by the bureau of the census of the United States department of commerce. See N.Y. State Finance Law 213
• Centralized contract: means any contract for the purchase of commodities or services, established or approved by the commissioner of general services as meeting the state's requirements including, but not limited to, any contract let by the federal government, other state or local governments or purchasing consortia. See N.Y. State Finance Law 160
• Certificate of approval: means the document approved by the director of the budget that authorizes an agency to expend funds in accordance with section forty-nine of this chapter. See N.Y. State Finance Law 179-Q
• Certified business: means a business located in an empire zone created pursuant to Article 18-B of the general municipal law and certified pursuant to such article as eligible for the benefits referred to in section nine hundred sixty-six of such article. See N.Y. State Finance Law 213
• Certified minority-or women-owned business: means any minority-or women-owned business enterprise as defined in § 310 of the executive law and certified pursuant to § 314 of the executive law. See N.Y. State Finance Law 213
• Chambers: A judge's office.
• Chuka stick: means any device designed primarily as a weapon, consisting of two or more lengths of a rigid material joined together by a thong, rope or chain in such a manner as to allow free movement of a portion of the device while held in the hand and capable of being rotated in such a manner as to inflict serious injury upon a person by striking or choking. See N.Y. Penal Law 265.00
• Collect: shall mean to store information, including via cookie technology, for purposes of retrieval at a later time to initiate communication with or make determinations about the person who is the subject of such information. See N.Y. State Technology Law 202
• Commissioner: means the commissioner of general services. See N.Y. State Finance Law 160
• commodities: means material goods, supplies, products, construction items, electronic information resources or other standard articles of commerce which are the subject of any purchase or other exchange. See N.Y. State Finance Law 160
• Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.
• Community development financial institution: means an organization as defined in 12 U. See N.Y. State Finance Law 213
• 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}
• Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
• Comptroller: means the comptroller of the state of New York. See N.Y. State Finance Law 213
• Construction item: means any item or material used in construction and which is procured directly by a state agency or by a person other than a municipality under contract with a state agency. See N.Y. State Finance Law 160
• Continuance: Putting off of a hearing ot trial until a later time.
• Contract: A legal written agreement that becomes binding when signed.
• Contract: means an enforceable agreement entered into by a contractor and a state agency. See N.Y. State Finance Law 179-E
• Contract: means an enforceable agreement entered into by a not-for-profit organization and a state agency or any agent acting for such state agency in the procurement process. See N.Y. State Finance Law 179-Q
• Contractor: means any person, partnership, firm, corporation, or association:
  
  a. See N.Y. State Finance Law 179-E
• Conviction: A judgement of guilt against a criminal defendant.
• Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
• Corporation: means the New York state environmental facilities corporation, as continued by § 1282 of the public authorities law. See N.Y. State Finance Law 236
• Costs: as used in this article shall be quantifiable and may include, without limitation, the price of the given good or service being purchased; the administrative, training, storage, maintenance or other overhead associated with a given good or service; the value of warranties, delivery schedules, financing costs and foregone opportunity costs associated with a given good or service; and the life span and associated life cycle costs of the given good or service being purchased. See N.Y. State Finance Law 160
• Council: means the advisory council for technology. See N.Y. State Technology Law 101
• Counterclaim: A claim that a defendant makes against a plaintiff.
• Credit union: means any credit union chartered under Article 11 of the banking law or any federal credit union. See N.Y. State Finance Law 213
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• Dealer in firearms: means any person, firm, partnership, corporation or company who engages in the business of purchasing, selling, keeping for sale, loaning, leasing, or in any manner disposing of, any assault weapon, large capacity ammunition feeding device, pistol, revolver, or semiautomatic rifle. See N.Y. Penal Law 265.00
• Decedent: A deceased person.
• Deed: The legal instrument used to transfer title in real property from one person to another.
• Deface: means to remove, deface, cover, alter or destroy the manufacturer's serial number or any other distinguishing number or identification mark. See N.Y. Penal Law 265.00
• Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
• Defense industry manufacturer: means a manufacturing firm as defined in subdivision eighteen of this section, twenty-five percent or more of the gross revenues of which derive, either directly as a prime contractor or indirectly as a subcontractor of a prime contractor, from department of defense or other military contracts. See N.Y. State Finance Law 213
• Department: means the department of economic development. See N.Y. State Finance Law 213
• Department of defense: means the United States department of defense. See N.Y. State Finance Law 213
• Dependent: A person dependent for support upon another.
• Designated payment office: means the office designated by the state agency to which a proper invoice is to be submitted by a contractor. See N.Y. State Finance Law 179-E
• Devise: To gift property by will.
• Director: means the director of the office. See N.Y. State Technology Law 101
• Disclose: shall mean to reveal, release, transfer, disseminate or otherwise communicate information orally, in writing or by electronic or other means, other than to the person who is the subject of such information. See N.Y. State Technology Law 202
• Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
• Disguised gun: means any weapon or device capable of being concealed on the person from which a shot can be discharged through the energy of an explosive and is designed and intended to appear to be either; (a) something other than a gun; or (b) a toy gun that shall include, but not be limited to, any firearm, rifle, shotgun or machine-gun displaying a color finish other than the original manufacture color, a decorative pattern or plastic like surface; provided, however, that any rifle or shotgun displaying a camouflage color finish or pattern that is intended for hunting, as defined by Article 11 of the environmental conservation law, shall not be considered a "disguised gun" for purposes of this section. See N.Y. Penal Law 265.00
• Dismissal: The dropping of a case by the judge without further consideration or hearing. ^Source:
• Dispose of: means to dispose of, give, give away, lease, loan, keep for sale, offer, offer for sale, sell, transfer and otherwise dispose of. See N.Y. Penal Law 265.00
• Duly authorized instructor: means (a) a duly commissioned officer of the United States army, navy, marine corps or coast guard, or of the national guard of the state of New York; or (b) a duly qualified adult citizen of the United States who has been granted a certificate as an instructor in small arms practice issued by the United States army, navy or marine corps, or by the adjutant general of this state, or by the division of criminal justice services, or by the national rifle association of America, a not-for-profit corporation duly organized under the laws of this state; (c) by a person duly qualified and designated by the department of environmental conservation as its agent in the giving of instruction and the making of certifications of qualification in responsible hunting practices; or (d) a New York state 4-H certified shooting sports instructor. See N.Y. Penal Law 265.00
• Electronic dart gun: means any device designed primarily as a weapon, the purpose of which is to momentarily stun, knock out or paralyze a person by passing an electrical shock to such person by means of a dart or projectile. See N.Y. Penal Law 265.00
• Electronic funds transfer: The transfer of money between accounts by consumer electronic systems-such as automated teller machines (ATMs) and electronic payment of bills-rather than by check or cash. (Wire transfers, checks, drafts, and paper instruments do not fall into this category.) ^{Source: OCC}
• Electronic stun gun: means any device designed primarily as a weapon, the purpose of which is to stun, cause mental disorientation, knock out or paralyze a person by passing a high voltage electrical shock to such person. See N.Y. Penal Law 265.00
• Eligible borrower: means any recipient, including any entity receiving or eligible to receive an agricultural assessment pursuant to Article 25 of the agriculture and markets law and any individual or small business eligible to undertake an eligible project related to residential and small business on-site wastewater treatment systems. See N.Y. State Finance Law 236
• Eligible business: means :
  
  (a) a manufacturing firm or agricultural business which employs five hundred or fewer employees within the state on a full-time basis; or
  
  (b) any certified business in an empire zone which business employs one hundred or fewer employees within the state on a full-time basis; or
  
  (b-1) during the whole or any portion of a period in which an area continues to be designated as a renewal community, any renewal community business located in such area that employs one hundred or fewer employees within the state on a full-time basis; or
  
  (b-2) during the whole or any portion of a period in which an area continues to be designated as an empowerment zone, any business located in such area that employs one hundred or fewer employees within the state on a full-time basis; or
  
  (b-3) during the whole or any portion of a period in which an area continues to be designated as an enterprise community, any business located in such area that employs one hundred or fewer employees within the state on a full-time basis; or
  
  (c) any firm seeking financing through the program for an export project, which firm employs one hundred or fewer employees within the state on a full-time basis; or
  
  (d) any business located in a highly distressed area, which business:
  
  (i) is not a retail business, unless financing provided through the program would promote the preservation of existing jobs or an increase in the overall number of retail jobs in the area; and
  
  (ii) employs one hundred or fewer employees within the state on a full-time basis; or
  
  (e) any certified minority-or women-owned business seeking financing necessary to carry out a procurement contract with an agency or authority or other entity of the state or federal government; or
  
  (f) any service business that is independently owned and operated, is not dominant in its field, employs one hundred or fewer persons on a full-time basis within the state, and is seeking financing through the program for a project that will result in the retention or creation of permanent private sector jobs within the state, other than a business that sells a service rendered at a facility personally by an individual for another individual, directly, without the intervention of a third party, or a professional service business such as health, legal, accounting, engineering, or architectural services; or
  
  (g) a qualifying technology or innovation business which business employs one hundred or fewer employees within the state on a full-time basis and engages in:
  
  (1) biotechnologies, which shall be defined as technologies involving the scientific manipulation of living organisms, especially at the molecular and/or the sub-molecular genetic level, to produce products conducive to improving the lives and health of plants, animals, and humans; and the associated scientific research, pharmacological, mechanical, and computational applications and services connected with these improvements;
  
  (2) information and communication technologies, equipment and systems that involve advanced computer software and hardware, visualization technologies, and human interface technologies;
  
  (3) advanced materials and processing technologies that involve the development, modification, or improvement of one or more materials or methods to produce devices and structures with improved performance characteristics or special functional attributes, or to activate, speed up, or otherwise alter chemical, biochemical, or medical processes;
  
  (4) electronic and photonic devices and components for use in producing electronic, optoelectronic, mechanical equipment and products of electronic distribution with interactive media content;
  
  (5) energy efficiency, renewable energy and environmental technologies, products, devices and services; or
  
  (6) small scale systems integration and packaging; or
  
  * (h) a community development financial institution. See N.Y. State Finance Law 213
• Eligible project: shall mean a project for the implementation of a management program established under section 319 of the Federal Water Pollution Control Act related to agricultural operations, the upgrade or replacement of residential and small business on-site wastewater treatment systems with a system approved by the state or local department of health, or the abandonment of residential and small business on-site wastewater treatment systems and connection to a sewer, when a sewer becomes available. See N.Y. State Finance Law 236
• Eligible projects: means :
  
  (a) export projects designed to increase a firm's export activities; or
  
  (b) for manufacturing, agricultural and service firms, projects which involve the preparation of strategic plans for improving productivity and competitiveness; the introduction of modern equipment and/or an expansion of facilities as part of a modernization plan; the introduction of advanced technologies to improve productivity and quality; improvements in production processes and operations, including agricultural operations; introduction of computerized information, reporting and control systems; reorganization or improvement of work place systems and the introduction of total quality and employee participation programs; development and introduction of new products; identification and development of new markets, including entry into foreign markets; financial restructuring for purposes of enabling modernization activities; buyouts of viable companies by employees or local owners residing in the state; and the provision of working capital for other modernization activities that will improve the competitiveness and productivity of a firm and result in the creation or retention of jobs; or
  
  (c) for certified businesses located in empire zones, for retail businesses located in highly distressed areas, for eligible businesses that are defined in paragraph (b-1) of subdivision eleven of this section that are located in a renewal community, for eligible businesses that are defined in paragraph (b-2) of subdivision eleven of this section that are located in an empowerment zone, and for eligible businesses that are defined in paragraph (b-3) of subdivision eleven of this section that are located in an enterprise community, projects that will create or retain full-time, permanent jobs within the empire zone or empowerment zone or enterprise community or highly distressed area or renewal community, as the case may be; or
  
  (d) for defense industry manufacturers, projects designed to reduce dependence on department of defense and other military contracts and to change or diversify production in order to take advantage of any market other than that serving the department of defense or other military procurers; or
  
  (e) for certified minority-and women-owned businesses, projects to provide financing necessary to carry out a procurement contract with an agency or authority or other entity of the state or federal government; or
  
  * (f) projects in which community development financial institutions make loans. See N.Y. State Finance Law 213
• Empire zone: means an empire zone created pursuant to Article 18-B of the general municipal law. See N.Y. State Finance Law 213
• Empowerment zone: means an area within the state that has been designated by such term pursuant to section 1391 of the federal Internal Revenue Code (26 United States Code § 1391) under the federal Community Renewal Tax Relief Act of 2000. See N.Y. State Finance Law 213
• Enterprise community: means an area within the state that has been designated by such term pursuant to section 1391 of the federal Internal Revenue Code (26 United States Code § 1391) under the federal Community Renewal Tax Relief Act of 2000. See N.Y. State Finance Law 213
• Entitlement: A Federal program or provision of law that requires payments to any person or unit of government that meets the eligibility criteria established by law. Entitlements constitute a binding obligation on the part of the Federal Government, and eligible recipients have legal recourse if the obligation is not fulfilled. Social Security and veterans' compensation and pensions are examples of entitlement programs.
• 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}
• Escrow: Money given to a third party to be held for payment until certain conditions are met.
• 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.
• Ex officio: Literally, by virtue of one's office.
• Executor: A male person named in a will to carry out the decedent
• 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.
• Federal Deposit Insurance Corporation: A government corporation that insures the deposits of all national and state banks that are members of the Federal Reserve System. ^{Source: OCC}
• 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}
• Fiduciary: A trustee, executor, or administrator.
• Firearm: means (a) any pistol or revolver; or (b) a shotgun having one or more barrels less than eighteen inches in length; or (c) a rifle having one or more barrels less than sixteen inches in length; or (d) any weapon made from a shotgun or rifle whether by alteration, modification, or otherwise if such weapon as altered, modified, or otherwise has an overall length of less than twenty-six inches; or (e) an assault weapon; or (f) any other weapon that is not otherwise defined in this section containing any component that provides housing or a structure designed to hold or integrate any fire control component that is designed to or may readily be converted to expel a projectile by action of explosive. See N.Y. Penal Law 265.00
• Firearm silencer: means any instrument, attachment, weapon or appliance for causing the firing of any gun, revolver, pistol or other firearms to be silent, or intended to lessen or muffle the noise of the firing of any gun, revolver, pistol or other firearms. See N.Y. Penal Law 265.00
• 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.
• Fixed Rate: Having a "fixed" rate means that the APR doesn't change based on fluctuations of some external rate (such as the "Prime Rate"). In other words, a fixed rate is a rate that is not a variable rate. A fixed APR can change over time, in several circumstances:
  • You are late making a payment or commit some other default, triggering an increase to a penalty rate
  • The bank changes the terms of your account and you do not reject the change.
  • The rate expires (if the rate was fixed for only a certain period of time).
• Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. ^{Source: OCC}
• Fraud: Intentional deception resulting in injury to another.
• Ghost gun: means a firearm, rifle or shotgun that does not comply with the provisions of section 265. See N.Y. Penal Law 265.00
• Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
• Grand jury: agreement providing that a lender will delay exercising its rights (in the case of a mortgage,
• Grantor: The person who establishes a trust and places property into it.
• Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
• Gunsmith: means any person, firm, partnership, corporation or company who engages in the business of repairing, altering, assembling, manufacturing, cleaning, polishing, engraving or trueing, or who performs any mechanical operation on, any firearm, large capacity ammunition feeding device or machine-gun. See N.Y. Penal Law 265.00
• Highly distressed area: means : (a) a census tract or tracts or block numbering area or areas or such census tract or block numbering area contiguous thereto which, according to the most recent census data available, has:
  
  (i) a poverty rate of at least twenty percent for the year to which the data relates or at least twenty percent of the households receiving public assistance; and
  
  (ii) an unemployment rate of at least one and twenty-five one hundredths times the statewide unemployment rate for the year to which the data relates; or
  
  (b) a city, town, village or county within a city with a population of one million or more for which: (i) the ratio of the full value property wealth, as determined by the comptroller for the most recent year determined, per resident to the statewide average full value property wealth per resident; and (ii) the ratio of the income per resident, as shown in the most recent census to the statewide average income per resident; are each fifty-five percent or less of the statewide average; provided, however, that an empire zone shall not be considered a highly distressed area for purposes of this article. See N.Y. State Finance Law 213
• Indemnification: In general, a collateral contract or assurance under which one person agrees to secure another person against either anticipated financial losses or potential adverse legal consequences. ^{Source: FDIC}
• Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
• Intangible property: Property that has no intrinsic value, but is merely the evidence of value such as stock certificates, bonds, and promissory notes.
• Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. ^{Source: OCC}
• Internet: shall mean a system of linked computer networks, international in scope, that facilitate data transmission and exchange. See N.Y. State Technology Law 202
• Joint resolution: A legislative measure which requires the approval of both chambers.
• Judgement: The official decision of a court finally determining the respective rights and claims of the parties to a suit.
• Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
• Kung Fu star: means a disc-like object with sharpened points on the circumference thereof and is designed for use primarily as a weapon to be thrown. See N.Y. Penal Law 265.00
• Large capacity ammunition feeding device: means a magazine, belt, drum, feed strip, or similar device, that has a capacity of, or that can be readily restored or converted to accept, more than ten rounds of ammunition; provided, however, that such term does not include an attached tubular device designed to accept, and capable of operating only with, . See N.Y. Penal Law 265.00
• Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). ^{Source: OCC}
• Lender: means :
  
  (a) any commercial bank which is or shall become an approved depository of state funds under the provisions of section one hundred five of this chapter and which agrees to participate in the program; or
  
  (b) any thrift or credit union which an authorized depositor determines is eligible to accept linked deposits based upon criteria applied by the authorized depositor in making determinations under section one hundred five of this chapter, and which agrees to participate in the program, provided that any linked deposit in such thrift or credit union shall be secured in the same manner as moneys deposited pursuant to section one hundred five of this chapter and such thrifts or credit unions shall pledge assets or furnish other security satisfactory in form and amount to the authorized depositor for the repayment of moneys. See N.Y. State Finance Law 213
• Lender: means any state or federally-chartered savings bank, savings and loan association, federal savings bank, federal savings and loan association, farm credit system institution, or commercial bank or trust company designated by the corporation to participate in the program. See N.Y. State Finance Law 236
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• Licensing officer: means in the city of New York the police commissioner of that city; in the county of Nassau the commissioner of police of that county; in the county of Suffolk the sheriff of that county except in the towns of Babylon, Brookhaven, Huntington, Islip and Smithtown, the commissioner of police of that county; for the purposes of section 400. See N.Y. Penal Law 265.00
• Lien: A claim against real or personal property in satisfaction of a debt.
• Linked deposit: means a deposit, or for farm credit system institutions and the New York business development corporation an investment eligible to be held by such institution or corporation placed with a lender by the comptroller or the commissioner of taxation and finance for a period of four years at the linked deposit interest rate, provided the lender agrees to:
  
  (a) lend the equivalent value of such deposit to an eligible business at the interest rate provided in section two hundred eighteen of this article; and
  
  (b) permit the deposit to be comprised of a series of ninety day deposits each bearing an interest rate equal to the linked deposit interest rate fixed at the time the original deposit is placed. See N.Y. State Finance Law 213
• Linked deposit: means financial assistance undertaken by the corporation for the construction of an eligible project through a deposit, or for a farm credit system institution an investment eligible to be held by such institution, placed with a lender by the corporation bearing interest at the linked deposit interest rate, provided the lender has agreed to:
  
  (a) lend the equivalent value of such deposit to an eligible borrower at the linked loan interest rate; and
  
  (b) permit the deposit to be comprised of a series of certificates of deposit each bearing an interest rate equal to the linked deposit interest rate fixed at the time the original linked deposit is placed. See N.Y. State Finance Law 236
• Linked deposit interest rate: means :
  
  (a) for a linked deposit made in connection with a linked loan to a certified business in an empire zone or to an eligible business located in a highly distressed area or to an eligible business that is defined in paragraph (b-1) of subdivision eleven of this section that is located in a renewal community or defined in paragraph (b-2) of such subdivision that is located in an empowerment zone or defined in paragraph (b-3) of such subdivision that is located in an enterprise community, or a qualifying technology or innovation business as defined in paragraph (g) of subdivision eleven of this section, respectively for eligible projects defined in paragraph (c) of subdivision twelve of this section or a certified minority- or women-owned business enterprise for an eligible project defined in paragraph (e) of subdivision twelve of this section or to a defense industry manufacturer for a project defined in paragraph (d) of subdivision twelve of this section, a fixed rate of interest which is three hundred basis points below the lender's posted four year certificate of deposit rate or, if the lender does not offer a four year certificate of deposit, is three hundred basis points below the average statewide rate for four year certificates of deposit as determined by the commissioner of economic development;
  
  (b) for a linked deposit made in connection with any linked loan other than those specified in paragraph (a) of this subdivision, a fixed rate of interest which is two hundred basis points below the lender's posted four year certificate of deposit rate, or if the lender does not offer a four year certificate of deposit, is two hundred basis points below the average statewide rate for four year certificates of deposit as determined by the commissioner of economic development. See N.Y. State Finance Law 213
• Linked deposit interest rate: means a fixed rate of interest which is below the market rate. See N.Y. State Finance Law 236
• Linked loan: means a loan for purposes of an eligible project, in an amount equal to a linked deposit and bearing interest for the first four years at the interest rate provided in section two hundred eighteen of this article. See N.Y. State Finance Law 213
• Linked loan: means a loan for purposes of an eligible project, in an amount equal to a linked deposit and bearing interest at the linked loan interest rate. See N.Y. State Finance Law 236
• Linked loan interest rate: means a fixed rate below the fixed interest rate the lender would have charged for the loan in the absence of a linked deposit based on its usual credit considerations. See N.Y. State Finance Law 236
• Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
• Loaded firearm: means any firearm loaded with ammunition or any firearm which is possessed by one who, at the same time, possesses a quantity of ammunition which may be used to discharge such firearm. See N.Y. Penal Law 265.00
• Local government: means any New York county, city, town, village, school district, board of cooperative educational services, local public benefit corporation or other municipal corporation or political subdivision of the state, or of such local government. See N.Y. State Finance Law 188
• Machine-gun: means a weapon of any description, irrespective of size, by whatever name known, loaded or unloaded, from which a number of shots or bullets may be rapidly or automatically discharged from a magazine with one continuous pull of the trigger and includes a sub-machine gun. See N.Y. Penal Law 265.00
• Manufacturing firm: means a firm involved with extracting, smelting, recovering, developing, preparing, compounding, converting, assembling or producing in any manner, minerals, raw materials, products or substances of any kind or nature, and shall include facilities related thereto for storage, warehousing or distribution, for research and development or for the discovery of new, and the refinement of known, substances, processes, and products. See N.Y. State Finance Law 213
• Material: means having a natural tendency to influence, or be capable of influencing the payment or receipt of money or property. See N.Y. State Finance Law 188
• Metal knuckle knife: means a weapon that, when closed, cannot function as a set of plastic knuckles or metal knuckles, nor as a knife and when open, can function as both a set of plastic knuckles or metal knuckles as well as a knife. See N.Y. Penal Law 265.00
• Microstamp: means a unique alphanumeric or geometric code that identifies the make, model, and serial number of a firearm. See N.Y. Penal Law 265.00
• Microstamping component: means a component part of a semi-automatic pistol that will produce a microstamp on at least one location of the expended cartridge case each time the pistol is fired. See N.Y. Penal Law 265.00
• Microstamping-enabled pistol: means any semiautomatic pistol that contains a microstamping component. See N.Y. Penal Law 265.00
• Minority leader: See Floor Leaders
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• 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}
• 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.
• Obligation: means an established duty, whether or not fixed, arising from an express or implied contractual, grantor-grantee, or licensor-licensee relationship, from a fee-based or similar relationship, from statute or regulation, or from the retention of any overpayment. See N.Y. State Finance Law 188
• Office: means the office of information technology services. See N.Y. State Technology Law 101
• Office: shall mean the state office of information technology services. See N.Y. State Technology Law 202
• organization: means a domestic corporation incorporated pursuant to or otherwise subject to the not-for-profit corporation law, a charitable organization registered with the secretary of state, a special act corporation created pursuant to chapter four hundred sixty-eight of the laws of eighteen hundred ninety-nine, as amended, a special act corporation formed pursuant to chapter two hundred fifty-six of the laws of nineteen hundred seventeen, as amended, a corporation authorized pursuant to an act of congress approved January fifth, nineteen hundred five, (33 stat. See N.Y. State Finance Law 179-Q
• Original source: means a person who (a) prior to a public disclosure under paragraph (b) of subdivision nine of section one hundred ninety of this article has voluntarily disclosed to the state or a local government the information on which allegations or transactions in a cause of action are based, or (b) who has knowledge that is independent of and materially adds to the publicly disclosed allegations or transactions, and who has voluntarily provided the information to the state or a local government before or simultaneous with filing an action under this article. See N.Y. State Finance Law 188
• Oversight: Committee review of the activities of a Federal agency or program.
• 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.
• Payment date: means the date on which a check for payment pursuant to a contract is dated. See N.Y. State Finance Law 179-E
• Performance: means any play, motion picture, photograph or dance. See N.Y. Penal Law 263.00
• Person: means any natural person, partnership, corporation, association or any other legal entity or individual, other than the state or a local government. See N.Y. State Finance Law 188
• Personal information: shall mean any information concerning a natural person which, because of name, number, symbol, mark or other identifier, can be used to identify that natural person. See N.Y. State Technology Law 202
• Personal property: All property that is not real property.
• Pilum ballistic knife: means any knife which has a blade which can be projected from the handle by hand pressure applied to a button, lever, spring or other device in the handle of the knife. See N.Y. Penal Law 265.00
• Plaintiff: The person who files the complaint in a civil lawsuit.
• Plea: In a criminal case, the defendant's statement pleading "guilty" or "not guilty" in answer to the charges, a declaration made in open court.
• Plea agreement: An arrangement between the prosecutor, the defense attorney, and the defendant in which the defendant agrees to plead guilty in exchange for special considerations. ^Source:
• Pleadings: Written statements of the parties in a civil case of their positions. In the federal courts, the principal pleadings are the complaint and the answer.
• Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. ^{Source: OCC}
• Precedent: A court decision in an earlier case with facts and law similar to a dispute currently before a court. Precedent will ordinarily govern the decision of a later similar case, unless a party can show that it was wrongly decided or that it differed in some significant way.
• Probable cause: A reasonable ground for belief that the offender violated a specific law.
• Program: means a provision of law authorizing a state agency to undertake activities that are to be accomplished in whole or in part through contracts with not-for-profit organizations. See N.Y. State Finance Law 179-Q
• Program: means the excelsior linked deposit program. See N.Y. State Finance Law 213
• Program: means the water pollution control linked deposit program. See N.Y. State Finance Law 236
• Program plan: means the document developed by a state agency, which shall include for each program: (a) the amounts to be allocated for renewal of contracts; (b) the amounts to be allocated for new contracts; (c) the method by which all contracts will be awarded, such methods shall include, but not be limited to, requests for proposals, preferred provider, and sole source; (d) the timetable for the selection of providers and contract development, including but not limited to, timetables for RFP development and response and provider notification; and (e) the timetable for promulgation of regulations as may be required for implementation. See N.Y. State Finance Law 179-Q
• Proper invoice: means a written request for a contract payment that is submitted by a contractor setting forth the description, price, and quantity of goods, property, or services delivered or rendered, in such form and supported by such other substantiating documentation as the state comptroller or individual state agency may reasonably require. See N.Y. State Finance Law 179-E
• Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government.
• Public law: A public bill or joint resolution that has passed both chambers and been enacted into law. Public laws have general applicability nationwide.
• Quorum: The number of legislators that must be present to do business.
• Ranking minority member: The highest ranking (and usually longest serving) minority member of a committee or subcommittee.
• Rapid-fire modification device: means any bump stock, trigger crank, binary trigger system, burst trigger system, or any other device that is designed to accelerate the rate of fire of a semi-automatic firearm, rifle or shotgun. See N.Y. Penal Law 265.00
• Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
• Receipt of an invoice: means (a) the date on which a proper invoice is actually received in the designated payment office, or (b) the date on which the state agency receives the purchased goods, property, or services covered by the proper invoice, whichever is later, or (c) in regard to final payments on highway construction contracts, the date determined in accordance with the provisions of paragraph (g) of subdivision seven of § 38 of the highway law. See N.Y. State Finance Law 179-E
• Recipient: means any person which is: (a) an individual or small business which is eligible to undertake an eligible project related to residential and small business on-site wastewater treatment systems; or (b) an entity receiving or eligible to receive an agricultural assessment pursuant to Article 25 of the agriculture and markets law which is eligible to undertake an eligible project; or (c) any two or more of the foregoing which are acting jointly in connection with an eligible project. See N.Y. State Finance Law 236
• Recourse: An arrangement in which a bank retains, in form or in substance, any credit risk directly or indirectly associated with an asset it has sold (in accordance with generally accepted accounting principles) that exceeds a pro rata share of the bank's claim on the asset. If a bank has no claim on an asset it has sold, then the retention of any credit risk is recourse. ^{Source: FDIC}
• 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.
• Renewal community: means an area within the state that has been designated by such term in accordance with section 1400E of the federal Internal Revenue Code (26 United States Code § 1400E) under the federal Community Renewal Tax Relief Act of 2000. See N.Y. State Finance Law 213
• Renewal community business: means a business that is designated by such term pursuant to section 1400G of the federal Internal Revenue Code (26 United States Code § 1400G) under the federal Community Renewal Tax Relief Act of 2000. See N.Y. State Finance Law 213
• Renewal contract: means the documents necessary to continue in effect an existing contract between a state agency and not-for-profit organization, including any simplified contract documents in a form approved by the office of the state comptroller. See N.Y. State Finance Law 179-Q
• Required payment date: means the date by which a contract payment must be made in order for the state government not to become liable for interest payments, pursuant to subdivision two or subdivision five of section one hundred seventy-nine-f of this article. See N.Y. State Finance Law 179-E
• Residential and small business on-site wastewater treatment system: means a system serving a residence or small business that provides for the treatment and/or disposition of the combination of human and sanitary waste with water not exceeding one thousand gallons per day. See N.Y. State Finance Law 236
• Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.
• RFP: means a request for proposals issued by a state agency for the purpose of soliciting not-for-profit organizations to operate a program or perform a service through a contract with a state agency. See N.Y. State Finance Law 179-Q
• Rifle: means a weapon designed or redesigned, made or remade, and intended to be fired from the shoulder and designed or redesigned and made or remade to use the energy of the explosive to fire only a single projectile through a rifled bore for each single pull of the trigger using either: (a) fixed metallic cartridge; or (b) each projectile and explosive charge are loaded individually for each shot discharged. See N.Y. Penal Law 265.00
• Scheduled commencement date: means the beginning date of the term of a contract as stated in the contract or in a written directive. See N.Y. State Finance Law 179-Q
• Semiautomatic: means any repeating rifle, shotgun or pistol, regardless of barrel or overall length, which utilizes a portion of the energy of a firing cartridge or shell to extract the fired cartridge case or spent shell and chamber the next round, and which requires a separate pull of the trigger to fire each cartridge or shell. See N.Y. Penal Law 265.00
• Serialized: means bearing a visible identification number and/or symbol in accordance with the requirements imposed on licensed importers and licensed manufacturers pursuant to subsection (i) of Section 923 of Title 18 of the United States Code and regulations issued pursuant thereto in effect at the time of assembly, except for antique firearms as defined in subdivision fourteen of this section, as added by chapter nine hundred eighty-six of the laws of nineteen hundred seventy-four, or any firearm, rifle or shotgun manufactured prior to nineteen hundred sixty-eight. See N.Y. Penal Law 265.00
• Serious offense: means (a) any of the following offenses defined in the current penal law and any offense in any jurisdiction or the former penal law that includes all of the essential elements of any of the following offenses: illegally using, carrying or possessing a pistol or other dangerous weapon; possession of burglar's tools; criminal possession of stolen property in the third degree; escape in the third degree; jostling; fraudulent accosting; endangering the welfare of a child; obscenity in the third degree; issuing abortional articles; permitting prostitution; promoting prostitution in the third degree; stalking in the fourth degree; stalking in the third degree; sexual misconduct; forcible touching; sexual abuse in the third degree; sexual abuse in the second degree; criminal possession of a controlled substance in the seventh degree; criminally possessing a hypodermic instrument; criminally using drug paraphernalia in the second degree; criminal possession of methamphetamine manufacturing material in the second degree; and a hate crime defined in article four hundred eighty-five of this chapter. See N.Y. Penal Law 265.00
• Service of process: The service of writs or summonses to the appropriate party.
• services: means the performance of a task or tasks and may include a material good or a quantity of material goods, and which is the subject of any purchase or other exchange. See N.Y. State Finance Law 160
• Set-off: means the reduction by the comptroller of a payment due to a contractor by an amount equal to the amount of an unpaid legally enforceable debt owed by the contractor to the state of New York. See N.Y. State Finance Law 179-E
• 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.
• Sexual conduct: means actual or simulated sexual intercourse, oral sexual conduct, anal sexual conduct, sexual bestiality, masturbation, sado-masochistic abuse, or lewd exhibition of the genitals. See N.Y. Penal Law 263.00
• Sexual performance: means any performance or part thereof which, for purposes of section 263. See N.Y. Penal Law 263.00
• Shotgun: means a weapon designed or redesigned, made or remade, and intended to be fired from the shoulder and designed or redesigned and made or remade to use the energy of the explosive to fire through a smooth or rifled bore either a number of ball shot or a single projectile for each single pull of the trigger using either: (a) a fixed shotgun shell; or (b) a projectile or number of ball shot and explosive charge are loaded individually for each shot discharged. See N.Y. Penal Law 265.00
• small business: means a business which is resident in this state, independently owned and operated, not dominant in its field and employs one hundred or less persons. See N.Y. State Finance Law 160
• Small business: means any business which is resident in this state, independently owned and operated, not dominant in its field, and employing not more than one hundred individuals. See N.Y. State Finance Law 236
• State: means the state of New York and any state department, board, bureau, division, commission, committee, public benefit corporation, public authority, council, office or other governmental entity performing a governmental or proprietary function for the state. See N.Y. State Finance Law 188
• state agencies: means all state departments, boards, commissions, offices or institutions but excludes, however, for the purposes of subdivision five of § 355 of the education law, the state university of New York and excludes, for the purposes of subdivision a of § 6218 of the education law, the city university of New York; provided, however, that the state university of New York and the city university of New York shall be subject to the provisions of section one hundred sixty-five-a of this article. See N.Y. State Finance Law 160
• State agency: means any department, board, bureau, commission, division, office, council, institution, or committee in the executive, legislative, or judicial branches of state government; the city university of New York when acting on behalf of any of its senior colleges; the facilities development corporation; or the state university construction fund. See N.Y. State Finance Law 179-E
• State agency: means any department, board, bureau, commission, division, office, council, institution or committee in the executive branch of government, the urban development corporation or the natural heritage trust to which an appropriation is made for the purposes of carrying out a program as defined herein. See N.Y. State Finance Law 179-Q
• State agency: means any department, board, bureau, commission, division, office, council, committee or officer of the state. See N.Y. State Technology Law 101
• State agency website: shall mean an internet website operated by or for a state agency. See N.Y. State Technology Law 202
• State funds: means funds held in joint custody by the state comptroller and the state commissioner of taxation and finance. See N.Y. State Finance Law 179-E
• Statute: A law passed by a legislature.
• Statute of limitations: A law that sets the time within which parties must take action to enforce their rights.
• Statutes at large: A chronological listing of the laws enacted each Congress. They are published in volumes numbered by Congress.
• Subpoena: A command to a witness to appear and give testimony.
• Summons: Another word for subpoena used by the criminal justice system.
• Switchblade knife: means any knife which has a blade which opens automatically by hand pressure applied to a button, spring or other device in the handle of the knife. See N.Y. Penal Law 265.00
• Technology: means either a good or a service or a combination thereof, used in the application of any computer or electronic information or interconnected system that is used in the acquisition, storage, manipulation, management, movement, control, display, switching, interchange, transmission, or reception of data or voice including, but not limited to, hardware, software, information appliances, firmware, programs, systems, networks, infrastructure, media, and related material used to automatically and electronically collect, receive, access, transmit, display, store, record, retrieve, analyze, evaluate, process, classify, manipulate, manage, assimilate, control, communicate, exchange, convert, coverage, interface, switch, or disseminate data of any kind or form, and shall include all associated consulting, management, facilities, maintenance and training. See N.Y. State Finance Law 160
• Technology: means either a good or a service or a combination thereof, used in the application of any computer or electronic information or interconnected system that is used in the acquisition, storage, manipulation, management, movement, control, display, switching, interchange, transmission, or reception of data or voice including, but not limited to, hardware, software, information appliances, firmware, programs, systems, networks, infrastructure, media, and related material used to automatically and electronically collect, receive, access, transmit, display, store, record, retrieve, analyze, evaluate, process, classify, manipulate, manage, assimilate, control, communicate, exchange, convert, coverage, interface, switch, or disseminate data of any kind or form, and shall include all associated consulting, management, facilities, maintenance, support and training. See N.Y. State Technology Law 101
• Temporary restraining order: Prohibits a person from an action that is likely to cause irreparable harm. This differs from an injunction in that it may be granted immediately, without notice to the opposing party, and without a hearing. It is intended to last only until a hearing can be held.
• Testify: Answer questions in court.
• Testimony: Evidence presented orally by witnesses during trials or before grand juries.
• Thrift: means any savings bank or savings and loan association, federal savings bank or federal savings and loan association. See N.Y. State Finance Law 213
• Tort: A civil wrong or breach of a duty to another person, as outlined by law. A very common tort is negligent operation of a motor vehicle that results in property damage and personal injury in an automobile accident.
• Transcript: A written, word-for-word record of what was said, either in a proceeding such as a trial or during some other conversation, as in a transcript of a hearing or oral deposition.
• Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence.
• Trigger crank: means any device or instrument that repeatedly activates the trigger of a semi-automatic firearm, rifle or shotgun through the use of a lever or other part that is turned in a circular motion and thereby accelerates the rate of fire of such firearm, rifle or shotgun, provided, however, that "trigger crank" shall not include any weapon initially designed and manufactured to fire through the use of a crank or lever. See N.Y. Penal Law 265.00
• Trust account: A general term that covers all types of accounts in a trust department, such as estates, guardianships, and agencies. ^{Source: OCC}
• Trustee: A person or institution holding and administering property in trust.
• Undetectable knife: means any knife or other instrument, which does not utilize materials that are detectable by a metal detector or magnetometer when set at a standard calibration, that is capable of ready use as a stabbing or cutting weapon and was commercially manufactured to be used as a weapon. See N.Y. Penal Law 265.00
• Unfinished frame or receiver: means any unserialized material that does not constitute the frame or receiver of a firearm, rifle or shotgun but that has been shaped or formed in any way for the purpose of becoming the frame or receiver of a firearm, rifle or shotgun, and which may readily be made into a functional frame or receiver through milling, drilling or other means. See N.Y. Penal Law 265.00
• 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}
• User: shall mean any natural person who uses the internet to access a state agency website. See N.Y. State Technology Law 202
• User fees: Fees charged to users of goods or services provided by the government. In levying or authorizing these fees, the legislature determines whether the revenue should go into the treasury or should be available to the agency providing the goods or services.
• Variable Rate: Having a "variable" rate means that the APR changes from time to time based on fluctuations in an external rate, normally the Prime Rate. This external rate is known as the "index." If the index changes, the variable rate normally changes. Also see Fixed Rate.
• Venue: The geographical location in which a case is tried.
• Verdict: The decision of a petit jury or a judge.
• Writ: A formal written command, issued from the court, requiring the performance of a specific act.
• Written directive: means a written request by a state agency to a not-for-profit organization authorizing such organization either to begin providing services during the negotiation of a contract or to continue providing services during the negotiation of a renewal contract. See N.Y. State Finance Law 179-Q