§ 1101 Definitions; Doing An Insurance Business
§ 1102 Insurer’s License Required; Issuance
§ 1103 Duration of Licenses
§ 1104 Revocation or Suspension of License; Restriction of License Authority or Limitation On Premiums Written
§ 1105 Voluntarily Ceasing to Maintain License
§ 1106 Additional Requirements for Foreign or Alien Insurer’s License
§ 1107 Licenses for Unincorporated Insurers
§ 1108 Insurers Exempt From Licensing and Other Requirements
§ 1109 Limited Exemption for Health Maintenance Organizations
§ 1110 Charitable Annuity Societies Exempt; Special Permits
§ 1111 Compulsory Insurance; Bonds of Surety Companies; Certificates of Qualification
§ 1112 Reciprocal Provisions as to Taxes, License Fees, Deposits, and Other Requirements
§ 1112-A Reports
§ 1113 Kinds of Insurance Authorized
§ 1114 Reinsurance Business
§ 1115 Limitation of Risk, in General
§ 1116 Prepaid Legal Services Plans and Legal Services Insurance
§ 1117 Health Insurance Plans for Long Term Care
§ 1118 Regional Pilot Projects for the Uninsured
§ 1119 Limited Exemption for Continuing Care Retirement Communities
§ 1120 Child Health Insurance Plan
§ 1121 Voucher Insurance Program
§ 1122 New York State Health Insurance Continuation Assistance Demonstration Project
§ 1124 Institutions of Higher Education Exempt; Certificate of Authority
§ 1124*2 Managed Care Health Savings Account

Terms Used In New York Laws > Insurance > Article 11

  • affirmed: In the practice of the appellate courts, the decree or order is declared valid and will stand as rendered in the lower court.
  • 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.
  • 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.
  • attorney-in-fact: A person who, acting as an agent, is given written authorization by another person to transact business for him (her) out of court.
  • 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.
  • 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
  • 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.
  • continuance: Putting off of a hearing ot trial until a later time.
  • contract: A legal written agreement that becomes binding when signed.
  • 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.
  • dismissal: The dropping of a case by the judge without further consideration or hearing. Source:
  • donor: The person who makes a gift.
  • 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
  • evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • federal deposit insurance corporation: A government corporation that insures the deposits of all national and state banks that are members of the Federal Reserve System. Source: OCC
  • fiduciary: A trustee, executor, or administrator.
  • 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.
  • forgery: The fraudulent signing or alteration of another's name to an instrument such as a deed, mortgage, or check. The intent of the forgery is to deceive or defraud. Source: OCC
  • fraud: Intentional deception resulting in injury to another.
  • gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
  • 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
  • guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. Source: OCC
  • 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
  • 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.
  • 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
  • legal tender: coins, dollar bills, or other currency issued by a government as official money. Source: U.S. Mint
  • liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • oath: A promise to tell the truth.
  • 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.
  • personal property: All property that is not real property.
  • real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
  • 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.
  • statute: A law passed by a legislature.
  • subpoena: A command to a witness to appear and give testimony.
  • trustee: A person or institution holding and administering property in trust.