§ 5031 Basis for Determining Judgment to Be Entered
§ 5032 Form of Security
§ 5033 Posting and Maintaining Security
§ 5034 Failure to Make Payment
§ 5036 Adjustment of Payments
§ 5037 Settlements
§ 5038 Assignment of Periodic Installments
§ 5039 Duties of Superintendent of Financial Services

Terms Used In New York Laws > Civil Practice Law and Rules > Article 50-A - Periodic Payment of Judgments in Medical and Dental Malpractice Actions

  • 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.
  • 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
  • Deed: The legal instrument used to transfer title in real property from one person to another.
  • Donee: The recipient of a gift.
  • Donor: The person who makes a gift.
  • Fiduciary: A trustee, executor, or administrator.
  • Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
  • Inter vivos: Transfer of property from one living person to another living person.
  • 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.
  • 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.
  • Statute of limitations: A law that sets the time within which parties must take action to enforce their rights.
  • Trustee: A person or institution holding and administering property in trust.
  • Verdict: The decision of a petit jury or a judge.