§ 1201 Incorporation of stock or mutual insurance companies
§ 1202 Number of directors; independent directors and committees of the board of directors; duty of directors
§ 1203 Non-use of corporate charter
§ 1204 Sale of insurance securities
§ 1205 Existing corporations
§ 1206 Amendments to charters and increase of capital of insurance corporations
§ 1207 Options for the purchase of shares
§ 1208 Method of amending mutual company charters
§ 1209 Management and by-laws of mutual insurance corporations
§ 1210 By-laws of domestic stock life insurance companies
§ 1211 Mutual insurance corporations; membership and dividends
§ 1212 Service of process upon superintendent as attorney
§ 1213 Service of process on superintendent as attorney for unauthorized insurers
§ 1214 Acting for foreign corporation which has not designated superintendent as attorney
§ 1215 Forfeiture of office by director or trustee of a domestic mutual insurer
§ 1216 Notice of indemnification of directors and officers of insurance corporations
§ 1217 Vouchers for disbursements
§ 1218 Regulation of stock ownership, interlocking directors and common management
§ 1219 Misconduct by directors; insolvency
§ 1220 Misconduct by officers and directors of co-operative fire insurance companies and of fraternal benefit societies
§ 1221 Transactions by officers, directors and certain shareowners in the insurer’s shares

Terms Used In New York Laws > Insurance > Article 12 - Organization and Corporate Procedure

  • Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
  • Affirmed: In the practice of the appellate courts, the decree or order is declared valid and will stand as rendered in the lower court.
  • 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.
  • 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
  • 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.
  • 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
  • Bequest: Property gifted by will.
  • Blood bank: means a facility for the collection, processing, storage and/or distribution of human blood, blood components or blood derivatives, but shall not mean a source plasma donation center. See N.Y. Public Health Law 571
  • Clinical laboratory: means a facility for the microbiological, immunological, chemical, hematological, biophysical, cytological, pathological, genetic, or other examination of materials derived from the human body, for the purpose of obtaining information for the diagnosis, prevention, or treatment of disease or the assessment of a health condition or for identification purposes. See N.Y. Public Health Law 571
  • 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.
  • Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
  • Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
  • Devise: To gift property by will.
  • Director: means the person who is responsible for administration of the technical and scientific operation of a clinical laboratory or blood bank, including supervision of procedures and reporting of findings of tests. See N.Y. Public Health Law 571
  • Donor: The person who makes a gift.
  • 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.
  • 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.
  • 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.
  • 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.
  • 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.
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
  • 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.
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
  • Personal property: All property that is not real property.
  • Plaintiff: The person who files the complaint in a civil lawsuit.
  • Plasmapheresis: means a procedure by which, during a single visit to the facility, blood is removed from an individual, the source plasma separated from the formed elements, and at least the red blood cells are returned to the donor. See N.Y. Public Health Law 571
  • Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. Source: OCC
  • Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government.
  • Provider-performed microscopy procedure: means a procedure performed by a qualified health care professional acting within the scope of his or her licensed profession, which has been designated as a provider-performed microscopy procedure pursuant to the federal clinical laboratory improvement act of nineteen hundred eighty-eight, as amended. See N.Y. Public Health Law 571
  • Public law: A public bill or joint resolution that has passed both chambers and been enacted into law. Public laws have general applicability nationwide.
  • Qualified health care professional: means a physician, dentist, podiatrist, optometrist performing a clinical laboratory test that does not use an invasive modality as defined in section seventy-one hundred one of the education law, pharmacist administering COVID-19 and influenza tests pursuant to subdivision seven of section sixty-eight hundred one of the education law, physician assistant, specialist assistant, nurse practitioner, or midwife, who is licensed and registered with the state education department. See N.Y. Public Health Law 571
  • Quorum: The number of legislators that must be present to do business.
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
  • 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.
  • Source plasma: means the fluid portion of human blood collected by plasmapheresis and intended as source material for plasma protein therapies. See N.Y. Public Health Law 571
  • Source plasma donation center: means a facility where source plasma is collected by plasmapheresis. See N.Y. Public Health Law 571
  • Statute: A law passed by a legislature.
  • Trustee: A person or institution holding and administering property in trust.
  • Usury: Charging an illegally high interest rate on a loan. Source: OCC
  • Waived test: means a clinical laboratory test that has been designated as a waived test or is otherwise subject to certificate of waiver requirements pursuant to the federal clinical laboratory improvement act of nineteen hundred eighty-eight, as amended. See N.Y. Public Health Law 571