§ 2400 Short Title
§ 2401 Legislative Findings
§ 2402 Definitions
§ 2403 State of New York Mortgage Agency
§ 2404 Powers of the Agency
§ 2405 Purchase of Existing Mortgages
§ 2405-A Education Loans
§ 2405-B Purchase of Forward Commitment Mortgages
§ 2405-C Purchase of New Housing Loans
§ 2405-D Lease-to-Own Program
§ 2405-E Purchase of Employer Assisted Forward Commitment Mortgages
§ 2405-F New York State Community Restoration Fund
§ 2406 Bonds and Notes of the Agency
§ 2407 Bond Limits
§ 2408 Reserve Funds and Appropriations
§ 2409 Remedies of Bondholders and Noteholders
§ 2410 State and Municipalities Not Liable On Bonds, Notes or Insurance Commitments or Contracts or Development Corporation Credit Support
§ 2411 Agreement of the State
§ 2412 Property and Income
§ 2413 Exemption From Taxation of Bonds and Notes and Insurance Commitments and Loans
§ 2414 Bonds and Notes as Legal Investments for Public Officers and Fiduciaries
§ 2415 Moneys of the Agency
§ 2416 Actions
§ 2417 Limitation of Liability
§ 2418 Assistance by State Officers, Departments, Boards and Commissions; Transfer of Officers and Employees
§ 2419 Annual Report
§ 2419-A Additional Reports
§ 2420 Court Proceedings; Preferences; Venue
§ 2420-A Validity
§ 2421 Inconsistent Provisions of Other Laws Superseded
§ 2422 Construction
§ 2423 Separability

Terms Used In New York Laws > Public Authorities > Article 8 > Title 17 > Part 1

  • 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.
  • Appraisal: A determination of property value.
  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
  • auction: means a public sale of cattle, swine or horses to the highest bidder. See N.Y. Agriculture and Markets Law 90-B
  • auctioneer: means a person who sells, or makes a business of selling cattle, swine or horses, at auction. See N.Y. Agriculture and Markets Law 90-B
  • camelid: means the entire family of camelidae. See N.Y. Agriculture and Markets Law 90-B
  • cattle: means the entire family of bovidae. See N.Y. Agriculture and Markets Law 90-B
  • Chairman: means the chairman of the dormitory authority. See N.Y. Public Authorities Law 1695
  • Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
  • Conviction: A judgement of guilt against a criminal defendant.
  • Counterclaim: A claim that a defendant makes against a plaintiff.
  • Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
  • Deed: The legal instrument used to transfer title in real property from one person to another.
  • deer: means any member of the family of cervidae. See N.Y. Agriculture and Markets Law 90-B
  • ear tag: means a unique, tamper-resistant device which, when affixed to the ears of cattle, deer, swine or camelid, identifies and distinguishes such animals. See N.Y. Agriculture and Markets Law 90-B
  • Escrow: Money given to a third party to be held for payment until certain conditions are met.
  • 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.
  • 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.
  • 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.
  • 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
  • Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
  • horse: means the entire family of equidae. See N.Y. Agriculture and Markets Law 90-B
  • 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
  • Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
  • 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
  • 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.
  • Minority leader: See Floor Leaders
  • Misdemeanor: Usually a petty offense, a less serious crime than a felony, punishable by less than a year of confinement.
  • mortgage: shall include housing loans as defined below. See N.Y. Public Authorities Law 2402
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • 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.
  • 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
  • Oath: A promise to tell the truth.
  • official backtag: means a unique device which, when affixed to cattle, deer, swine or camelid, identifies and distinguishes such animals. See N.Y. Agriculture and Markets Law 90-B
  • 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.
  • 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.
  • poultry: means a domesticated fowl including chickens, turkeys, waterfowl, guinea fowl and game birds commonly used for the production of meat and eggs. See N.Y. Agriculture and Markets Law 90-B
  • poultry dealer: means any person who buys or sells poultry as a business enterprise. See N.Y. Agriculture and Markets Law 90-B
  • poultry transporter: means any person who transports poultry as a business enterprise. See N.Y. Agriculture and Markets Law 90-B
  • 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.
  • Probable cause: A reasonable ground for belief that the offender violated a specific law.
  • Probate: Proving a will
  • Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government.
  • Quorum: The number of legislators that must be present to do business.
  • registration number: means the number assigned to and that identifies a particular domestic animal, which number and the identifying characteristics of such domestic animal are set forth in a registry maintained by a breed association recognized by the department. See N.Y. Agriculture and Markets Law 90-B
  • Service of process: The service of writs or summonses to the appropriate party.
  • sheep: means any member of the genus ovis. See N.Y. Agriculture and Markets Law 90-B
  • Summons: Another word for subpoena used by the criminal justice system.
  • swine: means the entire super family of suidoidae, both feral and domestic. See N.Y. Agriculture and Markets Law 90-B
  • 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.
  • Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence.
  • 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
  • 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.