§ 701 Board of Directors
§ 702 Number of Directors
§ 703 Election and Term of Directors
§ 704 Classification of Directors
§ 705 Newly Created Directorships and Vacancies
§ 706 Removal of Directors
§ 707 Quorum of Directors
§ 708 Action by the Board
§ 709 Greater Requirement as to Quorum and Vote of Directors
§ 710 Place and Time of Meetings of the Board
§ 711 Notice of Meetings of the Board
§ 712 Executive Committee and Other Committees
§ 713 Interested Directors
§ 714 Loans to Directors
§ 715 Officers
§ 716 Removal of Officers
§ 717 Duty of Directors
§ 718 List of Directors and Officers
§ 719 Liability of Directors in Certain Cases
§ 720 Action Against Directors and Officers for Misconduct
§ 721 Nonexclusivity of Statutory Provisions for Indemnification of Directors and Officers
§ 722 Authorization for Indemnification of Directors and Officers
§ 723 Payment of Indemnification Other Than by Court Award
§ 724 Indemnification of Directors and Officers by a Court
§ 725 Other Provisions Affecting Indemnification of Directors and Officers
§ 726 Insurance for Indemnification of Directors and Officers
§ 727 Annual Reports for Certain Transactions Required

Terms Used In New York Laws > Business Corporation > Article 7

  • Adjourn: A motion to adjourn a legislative chamber or a committee, if passed, ends that day's session.
  • 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.
  • 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.
  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • 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.
  • Commissioner: shall mean the commissioner of consumer and worker protection. See N.Y. New York City Administrative Code 20-102
  • 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.
  • Department: shall mean the department of consumer and worker protection. See N.Y. New York City Administrative Code 20-102
  • entire board: means the total number of directors which the corporation would have if there were no vacancies. See N.Y. Business Corporation Law 702
  • 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
  • Intestate: Dying without leaving a will.
  • 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
  • Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
  • 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.
  • Organization: shall mean a business entity, including but not limited to a corporation, trust, estate, partnership, cooperative, association, firm, club or society. See N.Y. New York City Administrative Code 20-102
  • 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: shall mean a natural person or an organization. See N.Y. New York City Administrative Code 20-102
  • 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.
  • 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.
  • Quorum: The number of legislators that must be present to do business.
  • 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.
  • Summons: Another word for subpoena used by the criminal justice system.
  • Testator: A male person who leaves a will at death.
  • Trustee: A person or institution holding and administering property in trust.