New York Laws > Cooperative Corporations > Article 5-A – Worker Cooperative Corporations
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Terms Used In New York Laws > Cooperative Corporations > Article 5-A - Worker Cooperative Corporations
- 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.
- 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.
- Dependent: A person dependent for support upon another.
- 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.
- patronage: means the amount of work performed as a member of a worker cooperative, measured in accordance with the certificate of incorporation and by-laws. See N.Y. Cooperative Corporations Law 90