§ 5-1701 Definitions
§ 5-1702 Initial Disclosure of Structured Settlement Terms
§ 5-1703 Required Disclosures to Payee
§ 5-1704 Provisions Prohibited in Transfer Agreement
§ 5-1705 Procedure for Approval of Transfers
§ 5-1706 Approval of Transfers of Structured Settlement Payment Rights
§ 5-1707 Effects of Transfer of Structured Settlement Payment Rights
§ 5-1708 General Provisions; Construction
§ 5-1708-A Waiver for Families of Victims of Terrorist Attacks
§ 5-1709 Enforcement

Terms Used In New York Laws > General Obligations > Article 5 > Title 17

  • 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
  • Commissioner: means the commissioner of correction in a city having a population of one million or more or that official having similar duties in any county which elects to have this article apply thereto, by whatever title he may be known. See N.Y. Correction Law 631
  • Continuance: Putting off of a hearing ot trial until a later time.
  • Contract: A legal written agreement that becomes binding when signed.
  • Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
  • Decedent: A deceased person.
  • Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
  • Department: means the applicable department of correction or, where no such department exists, the office of the commissioner. See N.Y. Correction Law 631
  • Dependent: A person dependent for support upon another.
  • Eligible inmate: means a person confined in a city prison or reformatory in a city having a population of one million or more or in a county jail and penitentiaries of a county which elects to have this article apply thereto where a furlough program has been established who is sentenced to a definite period of six months or more or to a reformatory sentence of imprisonment and has served a minimum of six months of any such sentence. See N.Y. Correction Law 631
  • Escrow: Money given to a third party to be held for payment until certain conditions are met.
  • Felony: A crime carrying a penalty of more than a year in prison.
  • Furlough committee: means the body of persons which may include members of the public, appointed pursuant to regulations promulgated by the commissioner for the purposes of formulating, modifying and revoking furlough programs at an institution. See N.Y. Correction Law 631
  • Furlough program: means a program under which eligible inmates may be granted the privilege of leaving the premises of a prison for a period not exceeding seventy-two hours for the purpose of seeking employment, maintaining family ties, solving family problems, to undergo surgery or to receive medical treatment or dental treatment not available in the correctional institution, or for any matter necessary to the furtherance of any such purposes. See N.Y. Correction Law 631
  • Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
  • Institution: means any institution under the jurisdiction of the commissioner of correction in any city having a population of one million or more or of a county which elects to have this article apply thereto. See N.Y. Correction Law 631
  • 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.
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Misdemeanor: Usually a petty offense, a less serious crime than a felony, punishable by less than a year of confinement.
  • 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.
  • Plaintiff: The person who files the complaint in a civil lawsuit.
  • Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.
  • 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.
  • Statute: A law passed by a legislature.
  • 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.
  • Warden: means the person in charge of an institution by whatever title he may be known. See N.Y. Correction Law 631