Sections
Article 73 Apportionment of Public Moneys 3601 – 3650-C
Article 74 Reserve Funds 3651 – 3653*2
Article 75 Trusts for Schools; Gospel and School Lots 3701 – 3713
Article 77 Fines, Penalties, Forfeitures and Costs 3801 – 3816

Terms Used In New York Laws > Education > Title 5 - Taxation and Financial Administration

  • Account owner: shall mean a person who enters into a tuition savings agreement pursuant to the provisions of this article, including a person who enters into such an agreement as a fiduciary or agent on behalf of a trust, estate, partnership, association, company or corporation. See N.Y. Education Law 695-B
  • Acquittal:
    1. Judgement that a criminal defendant has not been proved guilty beyond a reasonable doubt.
    2. A verdict of "not guilty."
     
  • Adjourn: A motion to adjourn a legislative chamber or a committee, if passed, ends that day's session.
  • Advice and consent: Under the Constitution, presidential nominations for executive and judicial posts take effect only when confirmed by the Senate, and international treaties become effective only when the Senate approves them by a two-thirds vote.
  • 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.
  • Amortization: Paying off a loan by regular installments.
  • 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.
  • Appearance bond: means a bail bond in which the only obligor is the principal. See N.Y. Criminal Procedure Law 500.10
  • 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
  • Arraignment: A proceeding in which an individual who is accused of committing a crime is brought into court, told of the charges, and asked to plead guilty or not guilty.
  • Arrest: Taking physical custody of a person by lawful authority.
  • Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
  • Bail: means cash bail, a bail bond or money paid with a credit card. See N.Y. Criminal Procedure Law 500.10
  • 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.
  • Bail bond: means a written undertaking, executed by one or more obligors, that the principal designated in such instrument will, while at liberty as a result of an order fixing bail and of the posting of the bail bond in satisfaction thereof, appear in a designated criminal action or proceeding when his attendance is required and otherwise

    render himself amenable to the orders and processes of the court, and that in the event that he fails to do so the obligor or obligors will pay to the people of the state of New York a specified sum of money, in the amount designated in the order fixing bail. See N.Y. Criminal Procedure Law 500.10

  • banking law: refer to laws of the state;

    4. See N.Y. New York City Administrative Code 11-601

  • 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.
  • Baseline: Projection of the receipts, outlays, and other budget amounts that would ensue in the future without any change in existing policy. Baseline projections are used to gauge the extent to which proposed legislation, if enacted into law, would alter current spending and revenue levels.
  • Bequeath: To gift property by will.
  • Bequest: Property gifted by will.
  • Best management practices: means methods, measures or practices determined to be the most practical and effective in preventing or reducing the impact of pollutants generated by nonpoint sources to a level compatible with water quality standards established pursuant to section 17-0301 of this article. See N.Y. Environmental Conservation Law 17-1403
  • board: means "board of directors". See N.Y. Banking Law 1001
  • board: means the board of trustees of the state university of New York. See N.Y. Education Law 390
  • Bondholder: shall mean and include any person, firm, association or corporation owning or holding a mortgage investment. See N.Y. Real Property Law 125
  • Borrower: shall mean a student attending a covered institution in this state, or a parent or person in parental relation to such student, who also obtains an educational loan from a lending institution to pay for or finance higher education expenses. See N.Y. Education Law 620
  • Cash bail: means a sum of money, in the amount designated in an order fixing bail, posted by a principal or by another person on his behalf with a court or other authorized public servant or agency, upon the condition that such money will become forfeit to the people of the state of New York if the principal does not comply with the directions of a court requiring his attendance at the criminal action or proceeding involved or does not otherwise render himself amenable to the orders and processes of the court. See N.Y. Criminal Procedure Law 500.10
  • certificate of approval: when used in this article, shall mean the certificate of approval as it may be amended from time to time. See N.Y. Railroad Law 303
  • Chambers: A judge's office.
  • Commissioner: means the commissioner of parks and recreation. See N.Y. New York City Administrative Code 18-101
  • Commissioner: shall mean the commissioner of consumer and worker protection. See N.Y. New York City Administrative Code 20-102
  • Commissioner of finance: means the commissioner of finance of the city;

    6. See N.Y. New York City Administrative Code 11-601

  • Committee: shall mean and include a person or group of persons, however known or designated, appointed by agreement, assignment, proxy, consent, authorization, power of attorney, or other similar instrument to act as an agency to receive and hold mortgage investments deposited by bondholders and to administer or do any act in respect to the same for the bondholders. See N.Y. Real Property Law 125
  • Common area: shall mean a portion of a multiple dwelling that is not within a dwelling unit and is regularly used by occupants for access to and egress from any dwelling unit within such multiple dwelling. See N.Y. New York City Administrative Code 27-2056.2
  • 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.
  • comptroller: means the comptroller of the state of New York with respect to the state university or the appropriate fiscal officer with respect to other employers. See N.Y. Education Law 398
  • Comptroller: shall mean the comptroller of the state of New York. See N.Y. Education Law 695-B
  • Construction: includes construction of new buildings, acquisition of existing buildings, and expansion, remodeling, alteration, and renovation of existing buildings, and initial equipment of such new, newly acquired, expanded, remodeled, altered or renovated buildings;

    b. See N.Y. Education Law 1002

  • Continuance: Putting off of a hearing ot trial until a later time.
  • conveyance: as used in this article , includes every instrument, in writing, except a will, by which any estate or interest in real property is created, transferred, assigned or surrendered. See N.Y. Real Property Law 240
  • conveyance: includes every written instrument, by which any estate or interest in real property is created, transferred, mortgaged or assigned, or by which the title to any real property may be affected, including an instrument in execution of a power, although the power be one of revocation only, and an instrument postponing or subordinating a mortgage lien; except a will, a lease for a term not exceeding three years, an executory contract for the sale or purchase of lands, and an instrument containing a power to convey real property as the agent or attorney for the owner of such property. See N.Y. Real Property Law 290
  • Conviction: A judgement of guilt against a criminal defendant.
  • Corporation: means and includes all banks, trust companies, safe deposit companies, investment companies, mutual trust investment companies, and, to the extent not provided otherwise under any regulation of the superintendent of financial services promulgated pursuant to the provisions of section fourteen-e of this chapter, stock-form savings banks and stock-form savings and loan associations. See N.Y. Banking Law 1001
  • Corporation: shall mean the New York state higher education services corporation. See N.Y. Education Law 695-B
  • Counterclaim: A claim that a defendant makes against a plaintiff.
  • Court: includes , where appropriate, a judge authorized to act as described in a particular statute, though not as a court. See N.Y. Criminal Procedure Law 500.10
  • Covered institution employee: shall mean any employee, agent, contractor, director, officer or trustee of a covered institution. See N.Y. Education Law 620
  • Decedent: A deceased person.
  • Deed: The legal instrument used to transfer title in real property from one person to another.
  • Department: means the department of parks and recreation. See N.Y. New York City Administrative Code 18-101
  • Department: shall mean the department of consumer and worker protection. See N.Y. New York City Administrative Code 20-102
  • Dependent: A person dependent for support upon another.
  • Depositary: shall mean and include any person, firm, association or corporation designated in any trust indenture, deed of trust, or deposit agreement as the custodian or depositary of mortgage investments. See N.Y. Real Property Law 125
  • Deposition: An oral statement made before an officer authorized by law to administer oaths. Such statements are often taken to examine potential witnesses, to obtain discovery, or to be used later in trial.
  • Descendent: One who is directly descended from another such as a child, grandchild, or great grandchild.
  • Designated beneficiary: shall mean , with respect to an account or accounts, the individual designated as the individual whose higher education expenses are expected to be paid from the account or accounts. See N.Y. Education Law 695-B
  • Deteriorated subsurface: shall mean an unstable or unsound painted subsurface, an indication of which can be observed through a visual inspection, including, but not limited to, rotted or decayed wood, or wood or plaster that has been subject to moisture or disturbance. See N.Y. New York City Administrative Code 27-2056.2
  • Devise: To gift property by will.
  • Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
  • Dismissal: The dropping of a case by the judge without further consideration or hearing. Source:
  • District: means a county soil and water conservation district created pursuant to section five of the soil and water conservation districts law. See N.Y. Environmental Conservation Law 17-1403
  • Domestic corporation: means a corporation organized under the laws of the state; and

    8. See N.Y. New York City Administrative Code 11-601

  • Donee: The recipient of a gift.
  • Dower: A widow
  • education department optional retirement program: means the retirement program established pursuant to part V of this article. See N.Y. Education Law 180
  • Educational loan: shall mean any loan that is made, insured, or guaranteed under Part B of Title IV of the Federal Higher Education Act of nineteen hundred sixty-five, as amended, any high risk loan or any private loan issued by a lending institution for the purposes of paying for or financing higher education expenses. See N.Y. Education Law 620
  • electing employee: means any eligible employee who exercises his election pursuant to this part V of this article to participate in the education department optional retirement program. See N.Y. Education Law 180
  • electing employee: shall mean any eligible employee who exercises his election pursuant to this article to come under the optional retirement program. See N.Y. Education Law 390
  • electing employer: means a community college which elects to offer the optional retirement program as herein provided. See N.Y. Education Law 390
  • Electronic: means of or relating to technology having electrical, digital, magnetic, wireless, optical, electromagnetic or similar capabilities. See N.Y. Real Property Law 290
  • Electronic appearance: means an appearance in which various participants, including the defendant, are not present in the court, but in which, by means of an independent audio-visual system, (a) all of the participants are simultaneously able to see and hear reproductions of the voices and images of the judge, counsel, defendant, police officer, and any other appropriate participant, and (b) counsel is present with the defendant, or if the defendant waives the presence of counsel on the record, the defendant and his or her counsel are able to see and hear each other and engage in private conversation. See N.Y. Criminal Procedure Law 182.10
  • Electronic arraignment: means an arraignment in which various participants, including the defendant, are not personally present in the court but in which all of the participants are simultaneously able to see and hear reproductions of the voices and images of the judge, counsels, defendant, police officer and any other appropriate participant, by means of an independent audio-visual system. See N.Y. Criminal Procedure Law 185.10
  • Electronic signature: means an electronic sound, symbol, or process, attached to or logically associated with an electronic record and executed or adopted by a person with the intent to sign the record. See N.Y. Real Property Law 290
  • Eligible educational institution: shall mean any institution of higher education defined as an eligible educational institution in section 529(e)(5) of the Internal Revenue Code of 1986, as amended. See N.Y. Education Law 695-B
  • eligible employee: means each employee of the education department who occupies a position which is designated by the commissioner as requiring the rendering of professional services within the field of supervision of higher education, and who, at the time of his initial employment with the department or within one year prior thereto, owns or owned a contract which may legally be continued pursuant to this part. See N.Y. Education Law 180
  • eligible employees: means those employees in positions requiring the performance of educational functions in teacher education, agriculture, home economics, forestry, ceramics, liberal and applied arts and sciences, engineering, technical skills, crafts, business education, labor and industrial relations, medicine, dentistry, veterinary medicine, pharmacy, nursing, law, public affairs, maritime officer training, academic administration, library service, student activities, student personnel service and other professions required to carry on the work of the state university and the colleges, schools, institutes, research centers, facilities and institutions comprising it and of the community colleges. See N.Y. Education Law 390
  • Embezzlement: In most states, embezzlement is defined as theft/larceny of assets (money or property) by a person in a position of trust or responsibility over those assets. Embezzlement typically occurs in the employment and corporate settings. Source: OCC
  • employee: means a person employed by the state university, the board of higher education of the city of New York, or a community college established and operated under article one hundred twenty-six of this chapter. See N.Y. Education Law 398
  • employer: means the state university of New York, the board of higher education of the city of New York, or a community college established and operated under article one hundred twenty-six of this chapter. See N.Y. Education Law 398
  • 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.
  • Ex officio: Literally, by virtue of one's office.
  • Extradition: The formal process of delivering an accused or convicted person from authorities in one state to authorities in another state.
  • Facility: means a single property or contiguous or adjacent properties used for a common purpose which are owned or operated by the same person on or in which are located:

    a. See N.Y. Environmental Conservation Law 17-1003

  • 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.
  • family tuition account: shall mean an individual savings account established in accordance with the provisions of this article. See N.Y. Education Law 695-B
  • Fee simple: Absolute title to property with no limitations or restrictions regarding the person who may inherit it.
  • Felony: A crime carrying a penalty of more than a year in prison.
  • Financial organization: shall mean an organization authorized to do business in the state of New York and (a) which is an authorized fiduciary to act as a trustee pursuant to the provisions of an act of congress entitled "Employee Retirement Income Security Act of 1974" as such provisions may be amended from time to time, or an insurance company; and (b)(i) is licensed or chartered by the department of financial services, (ii) is chartered by an agency of the federal government, (iii) is subject to the jurisdiction and regulation of the securities and exchange commission of the federal government, or (iv) is any other entity otherwise authorized to act in this state as a trustee pursuant to the provisions of an act of congress entitled "Employee Retirement Income Security Act of 1974" as such provisions may be amended from time to time. See N.Y. Education Law 695-B
  • 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).
  • Forbearance: A means of handling a delinquent loan. A
  • 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.
  • Friction Surface: shall mean any painted surface that touches or is in contact with another surface, such that the two surfaces are capable of relative motion and abrade, scrape, or bind when in relative motion. See N.Y. New York City Administrative Code 27-2056.2
  • Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
  • Gift: shall mean any discount, favor, gratuity, inducement, loan, stock, thing of value, or other item having more than nominal value. See N.Y. Education Law 620
  • Governor: includes any person performing the functions of governor by authority of the law of this state. See N.Y. Criminal Procedure Law 570.04
  • Grace period: The number of days you'll have to pay your bill for purchases in full without triggering a finance charge. Source: Federal Reserve
  • 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.
  • Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. Source: OCC
  • Handicapped person: means any person who in the judgment of the department is under a physical or mental disability which constitutes a substantial handicap to employment but which is of such a nature that vocational rehabilitation services may reasonably be expected to render him fit to engage in gainful employment, and also any person under a physical or mental disability which constitutes a substantial handicap to employment and for whom vocational rehabilitation services are necessary to ascertain his rehabilitation potential. See N.Y. Education Law 1002
  • Hearsay: Statements by a witness who did not see or hear the incident in question but heard about it from someone else. Hearsay is usually not admissible as evidence in court.
  • Higher education expenses: shall include the following:

    a. See N.Y. Education Law 620

  • 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
  • Independent audio-visual system: means an electronic system for the transmission and receiving of audio and visual signals, encompassing encoded signals, frequency domain multiplexing or other suitable means to preclude the unauthorized reception and decoding of the signals by commercially available television receivers, channel converters, or other available receiving devices. See N.Y. Criminal Procedure Law 182.10
  • Independent audio-visual system: shall mean an electronic system for the transmission and receiving of audio and visual signals, encompassing encoded signals, frequency domain multiplexing or other suitable means to preclude the unauthorized reception and decoding of the signals by commercially available television receivers, channel converters, or other available receiving devices. See N.Y. Criminal Procedure Law 185.10
  • Indictment: The formal charge issued by a grand jury stating that there is enough evidence that the defendant committed the crime to justify having a trial; it is used primarily for felonies.
  • Individuals with severe disabilities: means persons for whom competitive employment has either not traditionally occurred or has been interrupted or intermittent as a result of having a permanent and substantially disabling physical, sensory, or mental condition. See N.Y. Education Law 1002
  • Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
  • Insurance company bail bond: means a surety bond, executed in the form prescribed by the superintendent of financial services, in which the surety-obligor is a corporation licensed by the superintendent of financial services to engage in the business of executing bail bonds. See N.Y. Criminal Procedure Law 500.10
  • insurer: means a life insurance corporation, or other corporation, subject to department of financial services supervision. See N.Y. Education Law 180
  • insurer: shall mean a life insurance corporation, or other corporation subject to department of financial services supervision. See N.Y. Education Law 390
  • insurer: means a life insurance corporation or other corporation subject to department of financial services supervision. See N.Y. Education Law 398
  • interest in real property: include every such estate and interest, freehold or chattel, legal or equitable, present or future, vested or contingent. See N.Y. Real Property Law 240
  • 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
  • Interrogatories: Written questions asked by one party of an opposing party, who must answer them in writing under oath; a discovery device in a lawsuit.
  • Intestate: Dying without leaving a will.
  • Joint tenancy: A form of property ownership in which two or more parties hold an undivided interest in the same property that was conveyed under the same instrument at the same time. A joint tenant can sell his (her) interest but not dispose of it by will. Upon the death of a joint tenant, his (her) undivided interest is distributed among the surviving joint tenants.
  • Judgement: The official decision of a court finally determining the respective rights and claims of the parties to a suit.
  • Juror: A person who is on the jury.
  • Lead-based paint: means paint or other similar surface coating material containing 1. See N.Y. New York City Administrative Code 27-2056.2
  • Lead-based paint hazard: shall mean any condition in a dwelling or dwelling unit that causes exposure to lead from lead-contaminated dust, from lead-based paint that is peeling, or from lead-based paint that is present on chewable surfaces, deteriorated subsurfaces, friction surfaces, or impact surfaces that would result in adverse human health effects. See N.Y. New York City Administrative Code 27-2056.2
  • Lead-contaminated dust: shall mean dust containing lead at a mass per area concentration of 10 or more micrograms per square foot on a floor, 50 or more micrograms per square foot on window sills, and 100 or more micrograms per square foot on window wells, or such more stringent standards as may be adopted by rule of the department of health and mental hygiene, provided that, if the federal environmental protection agency or a successor agency, or the federal department of housing and urban development or a successor agency, adopts lower definitions of lead-contaminated dust, the board of health shall define in the health code such lower levels for the purposes of this subchapter. See N.Y. New York City Administrative Code 27-2056.2
  • Lead-contaminated dust clearance test: shall mean a test for lead-contaminated dust on floors, window wells, and window sills in a dwelling, that is made in accordance with section 27-2056. See N.Y. New York City Administrative Code 27-2056.2
  • leak: means any escape of petroleum from the ordinary containers employed in the normal course of storage, transfer, processing or use. See N.Y. Environmental Conservation Law 17-1003
  • 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
  • Legatee: A beneficiary of a decedent
  • Lending institution: shall mean :

    a. See N.Y. Education Law 620

  • lessor: means a banking organization, foreign banking corporation or a national banking association authorized to engage in the safe deposit business. See N.Y. Banking Law 332
  • 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
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • local sponsor: means any city, county, intermediate school district, or school district approved by the board, sponsoring or participating in the establishment or operation of a community college. See N.Y. Education Law 390
  • Management contract: shall mean the contract executed by the comptroller and a financial organization selected to act as a depository and manager of the program. See N.Y. Education Law 695-B
  • Misdemeanor: Usually a petty offense, a less serious crime than a felony, punishable by less than a year of confinement.
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • Mortgage investments: shall mean and include any and all shares and interests, heretofore or hereafter acquired, in an issue of bonds, notes or other evidence of indebtedness of individuals, partnerships, associations or corporations, held by more than one person and secured by a mortgage or mortgages upon real property, or by a deed or deeds of trust, trust indenture or indentures or other evidence of interest in real property, the payment of which is not guaranteed by any title and mortgage guaranty corporation or investment company and shall include certificates of deposit issued by or on behalf of a bondholders' protective committee or similar group and also any bonds, notes or other evidences of indebtedness taken in lieu of such real property by foreclosure or otherwise, provided, however, that it shall not include industrial securities. See N.Y. Real Property Law 125
  • Mortgage loan: A loan made by a lender to a borrower for the financing of real property. Source: OCC
  • Mortgagee: The person to whom property is mortgaged and who has loaned the money.
  • Mortgagor: The person who pledges property to a creditor as collateral for a loan and who receives the money.
  • Municipal corporation: means a county, city, town or village or an entity designated to act on behalf of such. See N.Y. Environmental Conservation Law 17-1403
  • 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
  • Nonpoint source: means any source of water pollution or pollutants which is not a discrete conveyance or point source permitted pursuant to title seven or eight of this article. See N.Y. Environmental Conservation Law 17-1403
  • Nonqualified withdrawal: shall mean a withdrawal from an account but shall not mean:

    a. See N.Y. Education Law 695-B

  • Oath: A promise to tell the truth.
  • Obligor: means a person who executes a bail bond on behalf of a principal and thereby assumes the undertaking described therein. See N.Y. Criminal Procedure Law 500.10
  • Office: means in the case of a bank or trust company its principal office, in the case of a safe deposit company, investment company or mutual trust investment company, its principal place of business and in the case of a foreign corporation the place of business designated in its license or its authorization pursuant to article five-C of this chapter, as the case may be, for the oldest agency or branch in this state of such foreign corporation. See N.Y. Banking Law 1001
  • operator: means any person, corporation, firm, agency, association or organization that uses or operates a motor vehicle with or without the permission of the owner, and an owner who operates his or her own motor vehicle. See N.Y. New York City Administrative Code 19-205
  • Operator: means any person who leases, operates, controls or supervises a facility. See N.Y. Environmental Conservation Law 17-1003
  • optional retirement program: means the retirement program established pursuant to this article. See N.Y. Education Law 390
  • Oral argument: An opportunity for lawyers to summarize their position before the court and also to answer the judges' questions.
  • 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
  • Organization certificate: includes (a) the original organization certificate or any other instrument filed or issued under any statute to form a corporation or foreign corporation, as amended, supplemented or restated by certificates of amendment, merger or consolidation or other certificates or instruments filed or issued under any statute; or (b) a special act or charter creating a corporation or foreign corporation, as amended, supplemented or restated by special acts or by certificates of amendment, merger or consolidation or other certificates or instruments filed or issued under any statute. See N.Y. Banking Law 1001
  • organization certificate: shall include an amended organization certificate. See N.Y. Banking Law 291
  • Outlays: Outlays are payments made (generally through the issuance of checks or disbursement of cash) to liquidate obligations. Outlays during a fiscal year may be for payment of obligations incurred in prior years or in the same year.
  • Oversight: Committee review of the activities of a Federal agency or program.
  • owner: shall be deemed to include, in addition to those mentioned hereinabove, all the officers, directors and persons having an interest in more than ten per cent of the issued and outstanding stock of the owner as herein defined, as holder or beneficial owner thereof, if such owner be a corporation other than a banking organization as defined in section two of the banking law, a national banking association, a federal savings and loan association, the mortgage facilities corporation, savings banks life insurance fund, the savings banks retirement system, an authorized insurer as defined in § 107 of the insurance law, or a trust company or other corporation organized under the laws of this state all the capital stock of which is owned by at least twenty savings banks or by at least twenty savings and loan associations or a subsidiary corporation all of the capital stock of which is owned by such trust company or other corporation. See N.Y. New York City Administrative Code 27-2004
  • owner: shall include : (A) the registered owner of a motor vehicle used or operated in the city of New York, and (B) any person, corporation, firm, agency, association or organization that is the renter or lessor of a motor vehicle used or operated in the city of New York. See N.Y. New York City Administrative Code 19-205
  • Owner: means any person who has legal or equitable title to a facility. See N.Y. Environmental Conservation Law 17-1003
  • Paper document: means a document in a form that is not electronic. See N.Y. Real Property Law 290
  • Peeling: shall mean that the paint or other surface-coating material is curling, cracking, scaling, flaking, blistering, chipping, chalking or loose in any manner, such that a space or pocket of air is behind a portion thereof or such that the paint is not completely adhered to the underlying surface. See N.Y. New York City Administrative Code 27-2056.2
  • person: shall be deemed to include, in addition to those mentioned hereinabove, all the officers, directors and persons having an interest in more than ten percent of the issued and outstanding stock of the owner as herein defined, as holder or beneficial owner thereof, if such person be a corporation other than a banking organization as defined in section two of the banking law, a national banking association, a federal savings and loan association, the mortgage facilities corporation, savings banks life insurance fund, the savings banks retirement system, an authorized insurer as defined in § 107 of the insurance law, or a trust company or other corporation organized under the laws of this state all the capital stock of which is owned by at least twenty savings banks or by at least twenty savings and loan associations or a subsidiary corporation all of the capital stock of which is owned by such trust company or other corporation. See N.Y. New York City Administrative Code 27-2004
  • Person: shall mean a natural person or an organization. See N.Y. New York City Administrative Code 20-102
  • Personal property: All property that is not real property.
  • Petroleum: means :

    a. See N.Y. Environmental Conservation Law 17-1003

  • Petty offense: A federal misdemeanor punishable by six months or less in prison. Source: U.S. Courts
  • 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.
  • 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.
  • Preferred lender list: shall mean a list of one or more recommended or suggested lending institutions that a covered institution makes available for use, in print or any other medium or form, by borrowers, potential borrowers or others. See N.Y. Education Law 620
  • Preliminary hearing: A hearing where the judge decides whether there is enough evidence to make the defendant have a trial.
  • Presiding officer: A majority-party Senator who presides over the Senate and is charged with maintaining order and decorum, recognizing Members to speak, and interpreting the Senate's rules, practices and precedents.
  • Principal: means a defendant in a criminal action or proceeding, or a person adjudged a material witness therein, or any other person so involved therein that the principal may by law be compelled to appear before a court for the purpose of having such court exercise control over the principal's person to secure the principal's future attendance at the action or proceeding when required, and who in fact either is before the court for such purpose or has been before it and been subjected to such control. See N.Y. Criminal Procedure Law 500.10
  • Probable cause: A reasonable ground for belief that the offender violated a specific law.
  • Probate: Proving a will
  • Probation: A sentencing alternative to imprisonment in which the court releases convicted defendants under supervision as long as certain conditions are observed.
  • Program: shall mean the New York state college choice tuition savings program established pursuant to this article. See N.Y. Education Law 695-B
  • Program manager: shall mean a financial organization selected by the comptroller to act as a depository and manager of the program. See N.Y. Education Law 695-B
  • Property: shall mean and include all of the real property or any incidental personal property constituting the underlying security for mortgage investments. See N.Y. Real Property Law 125
  • 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.
  • Pupil: means a child for whom transportation aid is paid and who lives more than one and one-half miles from the school which he or she attends, measured by the nearest available road to such school, or a child who lives more than one mile from an approved route, measured by the nearest available road to such route, and also lives more than one and one-half miles from the school which he or she attends. See N.Y. Education Law 3621
  • purchaser: includes every person to whom any estate or interest in real property is conveyed for a valuable consideration, and every assignee of a mortgage, lease or other conditional estate. See N.Y. Real Property Law 290
  • Qualified higher education expenses: shall mean any qualified higher education expense included in section 529 of the Internal Revenue Code of 1986, as amended. See N.Y. Education Law 695-B
  • Qualified withdrawal: shall mean a withdrawal from an account to pay the qualified higher education expenses of the designated beneficiary of the account at an eligible educational institution. See N.Y. Education Law 695-B
  • Quorum: The number of legislators that must be present to do business.
  • real property: as used in this article , includes lands, tenements and hereditaments and chattels real, except a lease for a term not exceeding three years. See N.Y. Real Property Law 290
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
  • Recess: A temporary interruption of the legislative business.
  • recorded: means the entry, at length, upon the pages of the proper record books in a plain and legible hand writing, or in print or in symbols of drawing or by photographic process or partly in writing, partly in printing, partly in symbols of drawing or partly by photographic process or by any combination of writing, printing, drawing or photography or either or any two of them, or by an electronic process by which a record or instrument affecting real property, after delivery is incorporated into the public record. See N.Y. Real Property Law 290
  • recording officer: means the county clerk of the county, except in a county having a register, where it means the register of the county. See N.Y. Real Property Law 290
  • 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.
  • Remainderman: One entitled to the remainder of an estate after a particular reserved right or interest, such as a life tenancy, has expired.
  • Remand: When an appellate court sends a case back to a lower court for further proceedings.
  • Remediate: shall mean the reduction or elimination of a lead-based paint hazard through the wet scraping and repainting, removal, encapsulation, enclosure, or replacement of lead-based paint, or other method approved by the commissioner of health and mental hygiene. See N.Y. New York City Administrative Code 27-2056.2
  • Reporter: Makes a record of court proceedings and prepares a transcript, and also publishes the court's opinions or decisions (in the courts of appeals).
  • Resides: shall mean to routinely spend 10 or more hours per week within a dwelling unit. See N.Y. New York City Administrative Code 27-2056.2
  • Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.
  • Revenue sharing: shall mean any arrangement whereby a lending institution pays a covered institution or an affiliated entity or organization of such covered institution a percentage of the principal of each loan directed towards the lending institution from a borrower at the covered institution. See N.Y. Education Law 620
  • Right of rescission: Right to cancel, within three business days, a contract that uses the home of a person as collateral, except in the case of a first mortgage loan. There is no fee to the borrower, who receives a full refund of all fees paid. The right of rescission is guaranteed by the Truth in Lending Act (TILA). Source: OCC
  • Right of survivorship: The ownership rights that result in the acquisition of title to property by reason of having survived other co-owners.
  • Route: means a highway or highways over and upon which a school bus regularly travels in accordance with a schedule maintained for the transportation of pupils from their homes to school. See N.Y. Education Law 3621
  • rules: shall mean a rule or rules promulgated pursuant to section 1043 of the New York city charter. See N.Y. New York City Administrative Code 27-2056.2
  • safe deposit box: means a vault, safe deposit box or other receptacle. See N.Y. Banking Law 332
  • salary: means all amounts paid by or for the state as compensation for services rendered by an eligible employee holding a position with the state university or by or for a community college as compensation for services rendered by an eligible employee holding a position at such college. See N.Y. Education Law 390
  • salary: means that amount fixed by or pursuant to law and paid by or for an employer to an employee as compensation for services rendered by the employee to the employer. See N.Y. Education Law 398
  • School bus: means any vehicle or other means of conveyance used for the purpose of transporting pupils. See N.Y. Education Law 3621
  • School district: means common school districts, to the extent that they provide transportation of students in grades seven through twelve to a school outside the district, consolidated school districts, central school districts, central high school districts, union free school districts, except special act school districts as defined in section four thousand one of this chapter, and city school districts. See N.Y. Education Law 3621
  • Secured bail bond: means a bail bond secured by either:

    (a) Personal property which is not exempt from execution and which, over and above all liabilities and encumbrances, has a value equal to or greater than the total amount of the undertaking; or

    (b) Real property having a value of at least twice the total amount of the undertaking. See N.Y. Criminal Procedure Law 500.10

  • Securing order: means an order of a court committing a principal to the custody of the sheriff or fixing bail, where authorized, or releasing the principal on the principal's own recognizance or releasing the principal under non-monetary conditions. See N.Y. Criminal Procedure Law 500.10
  • Sequester: To separate. Sometimes juries are sequestered from outside influences during their deliberations.
  • Service of process: The service of writs or summonses to the appropriate party.
  • 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.
  • state salary: means all amounts paid by or for the state as compensation for services rendered by an eligible employee. See N.Y. Education Law 180
  • state university: means the state university of New York and the term "community college" means a college established and operated under article one hundred twenty-six of this chapter. See N.Y. Education Law 390
  • Statute: A law passed by a legislature.
  • Storage: means any school bus garage facilities or sites which may be approved by the commissioner. See N.Y. Education Law 3621
  • Subpoena: A command to a witness to appear and give testimony.
  • Subpoena duces tecum: A command to a witness to produce documents.
  • Supported employment: means paid competitive work performed by individuals with severe disabilities who require intensive support services to obtain such employment and extended support to sustain such employment, and which is performed in an integrated setting which

    provides regular interactions with individuals who do not have disabilities, other than paid caregivers. See N.Y. Education Law 1002

  • Surety: means an obligor who is not a principal. See N.Y. Criminal Procedure Law 500.10
  • Surety bond: means a bail bond in which the obligor or obligors consist of one or more sureties or of one or more sureties and the principal. See N.Y. Criminal Procedure Law 500.10
  • tank: includes all associated pipes, lines, fixtures and other ancillary equipment. See N.Y. Environmental Conservation Law 17-1003
  • Taxpayer: means any corporation, association or other entity or individual subject to tax under this chapter;

    2. See N.Y. New York City Administrative Code 11-601

  • Tenancy in common: A type of property ownership in which two or more individuals have an undivided interest in property. At the death of one tenant in common, his (her) fractional percentage of ownership in the property passes to the decedent
  • terminable permit: as used in this article shall mean and embrace every grant from a city, town or village of power, right or privilege to occupy or use any of the streets, roads, highways, avenues, parks or public places of such city, town or village for the construction and operation of a street surface railroad, until such time as the city, town or village shall exercise its right to purchase the property, plant and equipment of such street surface railroad in accordance with the provisions of sections one hundred and seventy-three-a to one hundred and seventy-three-h, both inclusive, of this article, or until it shall be otherwise terminated according to law. See N.Y. Railroad Law 173-A
  • Testator: A male person who leaves a will at death.
  • Testify: Answer questions in court.
  • Testimony: Evidence presented orally by witnesses during trials or before grand juries.
  • this state: means the state of New York;

    3. See N.Y. New York City Administrative Code 11-601

  • 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.
  • Trade name: shall mean that name under which an organization or person solicits, engages in, conducts or transacts a business or activity. See N.Y. New York City Administrative Code 20-102
  • 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.
  • Treasury shares: means shares which have been issued, have been subsequently acquired, and are retained uncancelled by the corporation. See N.Y. Banking Law 1001
  • Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence.
  • Trustee: shall mean and include any person, firm, association or corporation named, appointed or designated as such in any deed of trust, trust indenture or other similar instrument or any successor of such trustee. See N.Y. Real Property Law 125
  • Tuition savings agreement: shall mean an agreement between the comptroller or a financial organization and the account owner. See N.Y. Education Law 695-B
  • Turnover: shall mean the occupancy of a dwelling unit subsequent to the termination of a tenancy and the vacatur by a prior tenant of such dwelling unit. See N.Y. New York City Administrative Code 27-2056.2
  • Underlying defect: shall mean a physical condition in a dwelling or dwelling unit that is causing or has caused paint to peel or a painted surface to deteriorate or fail, such as a structural or plumbing failure that allows water to intrude into a dwelling or dwelling unit. See N.Y. New York City Administrative Code 27-2056.2
  • 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
  • Uphold: The decision of an appellate court not to reverse a lower court decision.
  • 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.
  • Veto: The procedure established under the Constitution by which the President/Governor refuses to approve a bill or joint resolution and thus prevents its enactment into law. A regular veto occurs when the President/Governor returns the legislation to the house in which it originated. The President/Governor usually returns a vetoed bill with a message indicating his reasons for rejecting the measure. In Congress, the veto can be overridden only by a two-thirds vote in both the Senate and the House.
  • Vocational rehabilitation services: means :

    a. See N.Y. Education Law 1002

  • Wet signature: means a signature affixed in ink or pencil or other material to a paper document. See N.Y. Real Property Law 290
  • Window: shall mean the non-glass parts of a window, including but not limited to any window sash, window well, window jamb, window sill, or window molding. See N.Y. New York City Administrative Code 27-2056.2
  • Workshop: means a place where any manufacture or handiwork is carried on and which is operated for the principle purpose of providing gainful employment to severely handicapped persons (a) as an interim step in the rehabilitation process for those who cannot be absorbed in the competitive labor market; or (b) during such time as employment opportunities for them in the competitive labor market do not exist. See N.Y. Education Law 1002