Title 1 New York City Housing Authority
Title 2 Buffalo Municipal Housing Authority
Title 3 Schenectady Municipal Housing Authority
Title 4 New Rochelle Municipal Housing Authority
Title 5 Freeport Housing Authority
Title 6 Hempstead Housing Authority
Title 7 Rockville Centre Housing Authority
Title 8 North Tonawanda Housing Authority
Title 9 Tonawanda Housing Authority
Title 10 Elmira Housing Authority
Title 11 Port Chester Housing Authority
Title 12 Niagara Falls Housing Authority
Title 13 Rotterdam Municipal Housing Authority
Title 14 North Hempstead Housing Authority
Title 15 Town of Tonawanda Housing Authority
Title 16 Mount Vernon Housing Authority
Title 17 Cheektowaga Housing Authority
Title 18 Troy Housing Authority
Title 19 White Plains Housing Authority
Title 20 Oswego Housing Authority
Title 21 Fort Edward Housing Authority
Title 22 Binghamton Housing Authority
Title 23 Albany Housing Authority
Title 24 Corning Housing Authority
Title 25 Amsterdam Housing Authority
Title 26 Ithaca Housing Authority
Title 27 Fulton Housing Authority
Title 28 Rome Housing Authority
Title 29 Long Beach Housing Authority
Title 30 Johnson City Housing Authority
Title 31 Kingston Housing Authority
Title 32 Massena Housing Authority
Title 33 Auburn Housing Authority
Title 34 Poughkeepsie Housing Authority
Title 35 Watertown Housing Authority
Title 36 Mechanicville Housing Authority
Title 37 Ogdensburg Housing Authority
Title 38 Jamestown Housing Authority
Title 39 Orangetown Housing Authority
Title 40 Herkimer Housing Authority
Title 41 Glen Cove Housing Authority
Title 42 Plattsburgh Housing Authority
Title 43 Little Falls Housing Authority
Title 44 Cortland Housing Authority
Title 45 Cohoes Housing Authority
Title 46 Niagara Housing Authority
Title 47 Saratoga Springs Housing Authority
Title 48 Rensselaer Housing Authority
Title 49 North Tarrytown Housing Authority
Title 50 Newburgh Housing Authority
Title 51 Ossining Housing Authority
Title 52 Rye Housing Authority
Title 53 Salamanca Housing Authority
Title 54 Greenburgh Housing Authority
Title 55 Mount Kisco Housing Authority
Title 56 Watervliet Housing Authority
Title 57 Village of Catskill Housing Authority
Title 58 Middletown Housing Authority
Title 59 Village of Goshen Housing Authority
Title 60 Rochester Housing Authority
Title 61 Geneva Housing Authority
Title 62 Canandaigua Housing Authority
Title 63 Town of Southampton Housing Authority
Title 64 Mamaroneck Housing Authority
Title 65 Town of Islip Housing Authority
Title 66 Village of Nyack Housing Authority
Title 67 Village of Monticello Housing Authority
Title 68 Town of Wilna Housing Authority
Title 69 Town of Huntington Housing Authority
Title 71 Village of Spring Valley Housing Authority
Title 72 Village of Sloatsburg Housing Authority
Title 73 Gloversville Housing Authority
Title 74 City of Beacon Housing Authority
Title 76 Town of Hempstead Housing Authority
Title 77 Town of Oyster Bay Housing Authority
Title 78 City of Batavia Housing Authority
Title 79 Village of Ilion Housing Authority
Title 80 City of Dunkirk Housing Authority
Title 81 City of Hudson Housing Authority
Title 82 Village of Pawling Housing Authority
Title 83 City of Glens Falls Housing Authority
Title 84 City of Norwich Housing Authority
Title 85 Village of Greenport Housing Authority
Title 86 Town of Wallkill Housing Authority
Title 87 City of Hornell Housing Authority
Title 88 Village of Woodridge Housing Authority
Title 89 Town of Fallsburg Housing Authority
Title 90 Village of Malone Housing Authority
Title 91 Village of Coxsackie Housing Authority
Title 92 Village of South Nyack Housing Authority
Title 93 Town of Harrietstown Housing Authority
Title 94 Village of Tupper Lake Housing Authority
Title 94 Village of Waddington Housing Authority
Title 95 Town of Albion Housing Authority
Title 96 Town of Ramapo Housing Authority
Title 97 City of Oneonta Housing Authority
Title 98 Yorktown Housing Authority
Title 99 City of Lockport Housing Authority
Title 100 Village of Liberty Housing Authority
Title 101 Village of Green Island Housing Authority
Title 102 [Multiple Versions] City of Oneida Housing Authority
Title 102 [Multiple Versions] Village of Potsdam Housing Authority
Title 103 Town of Queensbury Housing Authority
Title 104 Village of Boonville Housing Authority
Title 104-A Palmyra Housing Authority
Title 104-B Village of Lowville Housing Authority
Title 104-C Village of Clayton Housing Authority
Title 104-D Village of Le Roy Housing Authority
Title 104-E Village of Painted Post Housing Authority
Title 105 Village of Ellenville Housing Authority
Title 106 Newark Housing Authority
Title 107 Village of Warwick Housing Authority
Title 108 Town of North Elba Housing Authority
Title 109 Village of Lake Placid Housing Authority
Title 110 Village of St. Johnsville Housing Authority
Title 111 Village of East Rochester Housing Authority
Title 112 Village of Lynbrook Housing Authority
Title 113 Elmira Heights Housing Authority
Title 114 Village of Groton Housing Authority
Title 115 Village of Canton Housing Authority
Title 116 Port Jervis Housing Authority
Title 117 Village of Webster Housing Authority
Title 118 City of Olean Housing Authority
Title 119 Town of Islip Housing Authority
Title 120 Village of Kenmore Housing Authority
Title 121 Village of Heuvelton Housing Authority
Title 122 Village of Elizabethtown Housing Authority
Title 123 Village of Rensselaer Falls Housing Authority
Title 125 Village of Island Park Housing Authority
Title 126 Village of Montour Falls Housing Authority
Title 127 Village of Chittenango Housing Authority
Title 127 Town of Norfolk Housing Authority
Title 128 Town of Hoosick Housing Authority
Title 128 Town of Wheatfield Housing Authority
Title 129 Fredonia Housing Authority
Title 130 Town of Warwick Housing Authority
Title 130 Village of North Syracuse Housing Authority
Title 132 Canajoharie Housing Authority
Title 133 Town of Dekalb Housing Authority
Title 134 Town of Hermon Housing Authority
Title 135 Village of Bath Housing Authority
Title 136 Village of Dolgeville Housing Authority
Title 137 Village of Oriskany Falls Housing Authority
Title 138 Village of Alexandria Bay Housing Authority
Title 138-A Village of Skaneateles Housing Authority
Title 139 Village of Lancaster Housing Authority
Title 140 Village of Philmont Housing Authority
Title 141 Town of Ticonderoga Housing Authority
Title 142 Town of Lansing Housing Authority
Title 143 Village of East Syracuse Housing Authority
Title 143 Village of Canastota Housing Authority
Title 144 Village of Kiryas Joel Housing Authority
Title 145 Village of West Winfield Housing Authority
Title 145 [Multiple Versions] Town of Edwards Housing Authority
Title 146 Village of Sackets Harbor Housing Authority
Title 147 Village of Watkins Glen Housing Authority
Title 148 Village of Horseheads Housing Authority
Title 149 Village of West Carthage Housing Authority
Title 150 Village of Great Neck Housing Authority
Title 150 Village of New Square Housing Authority
Title 151 Village of Frankfort Housing Authority
Title 152 Village of Solvay Housing Authority
Title 153 Town of Fowler Housing Authority
Title 154 Village of Philadelphia Housing Authority
Title 155 City of Sherrill Housing Authority
Title 156 Town of Marion Housing Authority
Title 157 Town of Cambria Housing Authority
Title 158 Town of East Hampton Housing Authority
Title 159 Town of Camillus Housing Authority
Title 160 Town of Lisbon Housing Authority
Title 161 Town of Union Housing Authority
Title 162 Village of Jordan Housing Authority
Title 162 Village of Liverpool Housing Authority
Title 163 Town of Goshen Housing Authority
Title 163 Village of Kaser Housing Authority
Title 164 Town of Mamaroneck Housing Authority
Title 164 Town of Tully Housing Authority
Title 165 Village of Scotia Housing Authority
Title 166 Town of Patterson Housing Authority
Title 167 Town of Allegany Housing Authority
Title 168 Town of Southampton Housing Authority
Title 169 Village of Elbridge Housing Authority
Title 170 Town of Glenville Housing Authority

Terms Used In New York Laws > Public Housing > Article 13 - Municipal Housing Authorities, Created

  • Account: means any of the two accounts created under section seven thousand seven hundred six of this article. See N.Y. Insurance Law 7705
  • Administrator: means any person designated by a provider to be responsible for administration of service contracts, including servicing, claims management and processing, recordkeeping, customer service and collection of fees. See N.Y. Insurance Law 7902
  • 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.
  • Affiliate: means a person which, directly or indirectly, owns at least ten percent but less than fifty percent of the financial guaranty insurance corporation or which is at least ten percent but less than fifty percent, directly or indirectly, owned by a financial guaranty insurance corporation. See N.Y. Insurance Law 6901
  • Affirmed: In the practice of the appellate courts, the decree or order is declared valid and will stand as rendered in the lower court.
  • Aggregate net liability: means the aggregate amount of insured unpaid principal, interest and other monetary payments, if any, of guarantied obligations insured or assumed, less reinsurance ceded and less collateral. See N.Y. Insurance Law 6901
  • 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.
  • 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.
  • 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
  • Arrest: Taking physical custody of a person by lawful authority.
  • 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.
  • 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.
  • Average annual debt service: means the amount of insured unpaid principal and interest on an obligation, multiplied by the number of such insured obligations (assuming each obligation represents one thousand dollars par value), divided by the amount equal to the aggregate life of all such obligations (assuming each obligation represents one thousand dollars par value). See N.Y. Insurance Law 6901
  • 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.
  • 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.
  • 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.
  • Charity: An agency, institution, or organization in existence and operating for the benefit of an indefinite number of persons and conducted for educational, religious, scientific, medical, or other beneficent purposes.
  • Collateral: means :
    (1) cash;
    (2) the cash flow from specific obligations which are not callable and scheduled to be received based on expected prepayment speed on or prior to the date of scheduled debt service (including scheduled redemptions or prepayments) on the insured obligation provided that (i) such specific obligations are directly payable by, guaranteed by or backed by the full faith and credit of the United States government, (ii) in the case of insured obligations denominated or payable in foreign currency as permitted under paragraph four of subsection (b) of section six thousand nine hundred four of this article, such specific obligations are directly payable by, guaranteed by or backed by the full faith and credit of such foreign government or the central bank thereof, or (iii) such specific obligations are insured by the same insurer that insures the obligations being collateralized, and the cash flows from such specific obligations are sufficient to cover the insured scheduled payments on the obligations being collateralized;
    (3) the market value of investment grade obligations, other than obligations evidencing an interest in the project or projects financed with the proceeds of the insured obligations;
    (4) the face amount of each letter of credit that:
    (A) is irrevocable;
    (B) provides for payment under the letter of credit in lieu of or as reimbursement to the insurer for payment required under a financial guaranty insurance policy;
    (C) is issued, presentable and payable either:
    (i) at an office of the letter of credit issuer in the United States; or
    (ii) at an office of the letter of credit issuer located in the jurisdiction in which the trustee or paying agent for the insured obligation is located;
    (D) contains a statement that either:
    (i) identifies the insurer and any successor by operation of law, including any liquidator, rehabilitator, receiver or conservator, as the beneficiary; or
    (ii) identifies the trustee or the paying agent for the insured obligation as the beneficiary;
    (E) contains a statement to the effect that the obligation of the letter of credit issuer under the letter of credit is an individual obligation of such issuer and is in no way contingent upon reimbursement with respect thereto;
    (F) contains an issue date and a date of expiration;
    (G) either:
    (i) has a term at least as long as the shorter of the term of the insured obligation or the term of the financial guaranty policy; or
    (ii) provides that the letter of credit shall not expire without thirty days prior written notice to the beneficiary and allows for drawing under the letter of credit in the event that, prior to expiration, the letter of credit is not renewed or extended or a substitute letter of credit or alternate collateral meeting the requirements of this subsection is not provided;
    (H) states that it is governed by the laws of the state of New York or by the 1983 or 1993 Revision of the Uniform Customs and Practice for Documentary Credits of the International Chamber of Commerce (Publication 400 or 500) or any successor Revision if approved by the superintendent, and contains a provision for an extension of time, of not less than thirty days after resumption of business, to draw against the letter of credit in the event that one or more of the occurrences described in Article 19 of Publication 400 or 500 occurs; and
    (I) is issued by a bank, trust company, or savings and loan association that:
    (i) is organized and existing under the laws of the United States or any state thereof or, in the case of a non-domestic financial institution, has a branch or agency office licensed under the laws of the United States or any state thereof and is domiciled in a member country of the Organisation for Economic Co-operation and Development having a sovereign rating in one of the top two generic lettered rating classifications by a securities rating agency acceptable to the superintendent;
    (ii) has (or is the principal operating subsidiary of a financial institution holding company that has) a long-term debt rating of at least investment grade; and
    (iii) is not a parent, subsidiary or affiliate of the trustee or paying agent, if any, with respect to the insured obligation if such trustee of paying agent is the named beneficiary of the letter of credit; or
    (5) the amount of credit protection available to the insurer (or its nominee) under each credit default swap that:
    (A) may not be amended without the consent of the insurer and may only be terminated: (i) at the option of the insurer; (ii) at the option of the counterparty to the insurer (or its nominee), if the credit default swap provides for the payment of a termination amount equal to the replacement cost of the terminated credit default swap determined with reference to standard documentation of the International Swap and Derivatives Association, Inc. See N.Y. Insurance Law 6901
  • Commercial real estate: means income producing real property other than residential property consisting of less than five units. See N.Y. Insurance Law 6901
  • 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.
  • Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
  • Contingency reserve: means an additional liability reserve established to protect policyholders against the effects of adverse economic developments or cycles or other unforeseen circumstances. See N.Y. Insurance Law 6901
  • Continuance: Putting off of a hearing ot trial until a later time.
  • Contract: A legal written agreement that becomes binding when signed.
  • contract holder: means a person who is the purchaser or holder of a service contract. See N.Y. Insurance Law 7902
  • Contractual obligations: means any obligation under covered policies, but shall not include any obligation with respect to policyholder dividends unpaid or unapplied, retrospective rate credits or similar benefits or provisions. See N.Y. Insurance Law 7705
  • corporation: means an insurer licensed to transact the business of financial guaranty insurance in this state. See N.Y. Insurance Law 6901
  • Corporation: means The Life and Health Insurance Company Guaranty Corporation of New York created under section seven thousand seven hundred six of this article unless the context otherwise requires. See N.Y. Insurance Law 7705
  • 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.
  • Covered policy: means any of the kinds of insurance specified in paragraph one, two or three of subsection (a) of section one thousand one hundred thirteen of this chapter, any supplemental contract, or any funding agreement referred to in section three thousand two hundred twenty-two of this chapter, or any portion or part thereof, within the scope of this article under section seven thousand seven hundred three of this article, except that any certificate issued to an individual under any group or blanket policy or contract shall be considered to be a separate covered policy for purposes of section seven thousand seven hundred eight of this article. See N.Y. Insurance Law 7705
  • Credit default swap: means an agreement referencing the credit derivative definitions published from time to time by the International Swap and Derivatives Association, Inc. See N.Y. Insurance Law 6901
  • 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.
  • Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
  • Dependent: A person dependent for support upon another.
  • 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.
  • 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.
  • 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.
  • Excess spread: means , with respect to any insured issue of asset-backed securities, the excess of (A) the scheduled cash flow on the underlying assets that is reasonably projected to be available, over the term of the insured securities after payment of the expenses associated with the insured issue, to make debt service payments on the insured securities over (B) the scheduled debt service requirements on the insured securities, provided that such excess is held in the same manner as collateral is required to be held under subsection (g) of this section. See N.Y. Insurance Law 6901
  • 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.
  • Fiduciary: A trustee, executor, or administrator.
  • Financial guaranty insurance: means a surety bond, an insurance policy or, when issued by an insurer or any person doing an insurance business as defined in paragraph one of subsection (b) of section one thousand one hundred one of this chapter, an indemnity contract, and any guaranty similar to the foregoing types, under which loss is payable, upon proof of occurrence of financial loss, to an insured claimant, obligee or indemnitee as a result of any of the following events:
    (A) failure of any obligor on or issuer of any debt instrument or other monetary obligation (including equity securities guarantied under a surety bond, insurance policy or indemnity contract) to pay when due to be paid by the obligor or scheduled at the time insured to be received by the holder of the obligation, principal, interest, premium, dividend or purchase price of or on, or other amounts due or payable with respect to, such instrument or obligation, when such failure is the result of a financial default or insolvency or, provided that such payment source is investment grade, any other failure to make payment, regardless of whether such obligation is incurred directly or as guarantor by or on behalf of another obligor that has also defaulted;
    (B) changes in the levels of interest rates, whether short or long term or the differential in interest rates between various markets or products;
    (C) changes in the rate of exchange of currency;
    (D) changes in the value of specific assets or commodities, financial or commodity indices, or price levels in general; or
    (E) other events which the superintendent determines are substantially similar to any of the foregoing. See N.Y. Insurance Law 6901
  • 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.
  • Garnishment: Generally, garnishment is a court proceeding in which a creditor asks a court to order a third party who owes money to the debtor or otherwise holds assets belonging to the debtor to turn over to the creditor any of the debtor
  • Germane: On the subject of the pending bill or other business; a strict standard of relevance.
  • Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
  • Governmental unit: means the United States of America, Canada, a member country of the Organisation for Economic Co-operation and Development having a sovereign rating in one of the top two generic lettered rating classifications by a securities rating agency acceptable to the superintendent, a state, territory or possession of the United States of America, the District of Columbia, a province of Canada, a municipality, or a political subdivision of any of the foregoing, or any public agency or instrumentality thereof. See N.Y. Insurance Law 6901
  • 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
  • Health insurance: means the kinds of insurance specified under items (i) and (ii) of paragraph three and paragraph thirty-one of subsection (a) of section one thousand one hundred thirteen of this chapter, and section one thousand one hundred seventeen of this chapter; medical expense indemnity, dental expense indemnity, hospital service, or health service under article forty-three of this chapter; and comprehensive health services under article forty-four of the public health law. See N.Y. Insurance Law 7705
  • Incidental damages: has the meaning as set forth in subdivision one of section 2-715 of the uniform commercial code, as such definition may be amended from time to time. See N.Y. Insurance Law 7902
  • 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.
  • Insolvent insurer: means a member insurer which after the effective date of this article becomes insolvent for the purposes of section one thousand three hundred nine of this chapter and is placed under a final order of liquidation, rehabilitation or conservation by a court of competent jurisdiction. See N.Y. Insurance Law 7705
  • 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
  • Investment grade: means that:
    (1) the obligation or parity obligation of the same issuer has been determined to be in one of the top four generic lettered rating classifications by a securities rating agency acceptable to the superintendent;
    (2) the obligation or parity obligation of the same issuer has been identified in writing by such rating agency to be of investment grade quality; or
    (3) if the obligation or parity obligation of the same issuer has not been submitted to any such rating agency, the obligation is determined to be investment grade (as indicated by a rating in category 1 or 2) by the Securities Valuation Office of the National Association of Insurance Commissioners. See N.Y. Insurance Law 6901
  • 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
  • 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.
  • Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
  • Long-term care insurance: means an insurance policy, rider, or certificate advertised, marketed, offered, or designed to provide coverage, subject to eligibility requirements, for not less than twenty-four consecutive months for each covered person on an expense incurred, indemnity, prepaid or other basis and provides at least the benefits set forth in part fifty-two of title eleven of the official compilation of codes, rules and regulations of this state. See N.Y. Insurance Law 7705
  • Member insurer: means :
    (A) any life insurance company licensed to transact in this state any kind of insurance to which this article applies under section seven thousand seven hundred three of this article; provided, however, that the term "member insurer" also means any life insurance company formerly licensed to transact in this state any kind of insurance to which this article applies under section seven thousand seven hundred three of this article; and
    (B) an insurer licensed or formerly licensed to write accident and health insurance or salary protection insurance in this state, corporation organized pursuant to article forty-three of this chapter, reciprocal insurer organized pursuant to article sixty-one of this chapter, cooperative property/casualty insurance company operating under or subject to article sixty-six of this chapter, nonprofit property/casualty insurance company organized pursuant to article sixty-seven of this chapter, and health maintenance organization certified pursuant to article forty-four of the public health law. See N.Y. Insurance Law 7705
  • Minority leader: See Floor Leaders
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • Municipal bonds: means municipal obligation bonds and special revenue bonds. See N.Y. Insurance Law 6901
  • 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
  • National Credit Union Administration: The federal regulatory agency that charters and supervises federal credit unions. (NCUA also administers the National Credit Union Share Insurance Fund, which insures the deposits of federal credit unions.) Source: OCC
  • Nonprofit organizations: means organizations described in paragraph (3) of subsection (c), and exempt from taxation under subsection (a), of section 501 of the Internal Revenue Code, including, if qualified thereunder, type B or D organizations formed pursuant to paragraph (b) of section two hundred one of the not-for-profit corporation law, and organizations described in section two hundred sixteen-a of the education law. See N.Y. Insurance Law 6702
  • 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.
  • Oversight: Committee review of the activities of a Federal agency or program.
  • 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.
  • Person: means any individual or legal entity, including a corporation, partnership, association, limited liability company, trust, or voluntary organization. See N.Y. Insurance Law 7705
  • Person: means an individual, partnership, corporation, incorporated or unincorporated association, joint stock company, reciprocal, syndicate or any similar entity or combination of entities acting in concert. See N.Y. Insurance Law 7902
  • Personal property: All property that is not real property.
  • Plaintiff: The person who files the complaint in a civil lawsuit.
  • 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
  • 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.
  • Premium: means the consideration paid to an insurer for a service contract reimbursement insurance policy. See N.Y. Insurance Law 7902
  • Premiums: means direct gross insurance premiums and annuity and funding agreement considerations received on covered policies, less return premiums and considerations thereon and dividends paid or credited to policyholders or contract holders on such direct business, subject to such modifications as the superintendent may establish by regulation or order as necessary to facilitate the equitable administration of this article. See N.Y. Insurance Law 7705
  • Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government.
  • Provider: means a person who markets, sells, offers for sale, issues, makes or proposes to make or administers a service contract, and who is contractually obligated to provide service under a service contract. See N.Y. Insurance Law 7902
  • Provider fee: means the total purchase price or consideration paid for a service contract. See N.Y. Insurance Law 7902
  • Proxy voting: The practice of allowing a legislator to cast a vote in committee for an absent legislator.
  • 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.
  • Recourse: An arrangement in which a bank retains, in form or in substance, any credit risk directly or indirectly associated with an asset it has sold (in accordance with generally accepted accounting principles) that exceeds a pro rata share of the bank's claim on the asset. If a bank has no claim on an asset it has sold, then the retention of any credit risk is recourse. Source: FDIC
  • Reinsurance: means cessions qualifying for credit under section six thousand nine hundred six of this article. See N.Y. Insurance Law 6901
  • 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.
  • Rescission: The cancellation of budget authority previously provided by Congress. The Impoundment Control Act of 1974 specifies that the President may propose to Congress that funds be rescinded. If both Houses have not approved a rescission proposal (by passing legislation) within 45 days of continuous session, any funds being withheld must be made available for obligation.
  • Resident: means a person to whom a contractual obligation is owed and who either: (1) resides in this state on the date of entry of a court order of liquidation or rehabilitation with respect to a member insurer that is an impaired or insolvent insurer; or (2) resided in this state at the time a member insurer issued a covered policy to such person. See N.Y. Insurance Law 7705
  • Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.
  • 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
  • Sequester: To separate. Sometimes juries are sequestered from outside influences during their deliberations.
  • Service contract: means a contract or agreement, for a separate or additional consideration, for a specific duration to perform the repair, replacement or maintenance of property, or indemnification for repair, replacement or maintenance, due to a defect in materials or workmanship or wear and tear, with or without additional provision for indemnity payments for incidental damages, provided any such indemnity payment per incident shall not exceed the purchase price of the property serviced. See N.Y. Insurance Law 7902
  • Service contract reimbursement insurance policy: means a policy of service contract reimbursement insurance. See N.Y. Insurance Law 7902
  • 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.
  • Statute: A law passed by a legislature.
  • Subpoena: A command to a witness to appear and give testimony.
  • Summons: Another word for subpoena used by the criminal justice system.
  • Systems: means plumbing, electrical, heating, cooling, ventilation, and other systems used in residential real property, including without limitation:
    (A) plumbing systems which include gas supply lines and fittings, water supply, waste and vent pipes and their fittings, septic tanks and their drain fields, water, gas and sewer service piping, and their extensions to the tie-in of a public utility connection, or on-site well and sewage disposal system;
    (B) electrical systems which include all wiring, electrical boxes, switches, outlets, and connections up to the public utility connection; and
    (C) heating, cooling and ventilation systems which include all duct work, steam, water and refrigerant lines, registers, convectors, radiation elements and dampers. See N.Y. Insurance Law 7902
  • 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.
  • 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.
  • Trust account: A general term that covers all types of accounts in a trust department, such as estates, guardianships, and agencies. Source: OCC
  • Trustee: A person or institution holding and administering property in trust.
  • 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
  • Usury: Charging an illegally high interest rate on a loan. Source: OCC
  • Utility first mortgage obligation: means any obligation of an issuer secured by a first priority mortgage on utility property owned by or leased to an investor-owned or cooperative-owned utility company and located in the United States, Canada or a member country of the Organisation for Economic Co-operation and Development having a sovereign rating in one of the top two generic lettered rating classifications by a securities rating agency acceptable to the superintendent; provided that the utility or utility property or the usage fees or other similar utility rates or charges are subject to regulation or oversight by a governmental unit. See N.Y. Insurance Law 6901
  • Venue: The geographical location in which a case is tried.
  • Verdict: The decision of a petit jury or a judge.