Terms Used In New York Laws > Vehicle and Traffic > Title 7 - Rules of the Road

• Accumulated contributions: shall mean the sum of all the amounts deducted from the compensation of a contributor, and credited to his individual account in the annuity savings fund together with regular interest thereon. See N.Y. Education Law 501
• Adjourn: A motion to adjourn a legislative chamber or a committee, if passed, ends that day's session.
• Advice and consent: Under the Constitution, presidential nominations for executive and judicial posts take effect only when confirmed by the Senate, and international treaties become effective only when the Senate approves them by a two-thirds vote.
• 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.
• Annuity: shall mean the annual payments for life derived from contributions made by contributor as provided in this article. See N.Y. Education Law 501
• Annuity reserve: shall mean the present value of all payments to be made on account of any annuity, or benefit in lieu of any annuity, computed upon the basis of such mortality tables as shall be adopted by the retirement board with regular interest. See N.Y. Education Law 501
• Appraisal: A determination of property value.
• Attorney-at-law: A person who is legally qualified and licensed to practice law, and to represent and act for clients in legal proceedings.
• Authorized expenditures: shall mean those expenditures determined by the commissioner to be reasonable and necessary for the adequate and proper enforcement of the provisions of this chapter, and for implementing an accident reporting system and vessel and related equipment anti-theft program and/or an "I love NY waterways" boating safety program and/or a boating noise level enforcement program. See N.Y. Navigation Law 79-A
• 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}
• Beneficiary: shall mean any person in receipt of a retirement allowance or other benefit as provided by this article. See N.Y. Education Law 501
• Concurrent resolution: A legislative measure, designated "S. Con. Res." and numbered consecutively upon introduction, generally employed to address the sentiments of both chambers, to deal with issues or matters affecting both houses, such as a concurrent budget resolution, or to create a temporary joint committee. Concurrent resolutions are not submitted to the President/Governor and thus do not have the force of law.
• conservatee: means a person who has suffered substantial impairment of his ability to care for his property or has become unable to provide for himself or others dependent upon him for support for whom a conservator of his property has been appointed, pursuant to § 77. See N.Y. Real Property Actions and Proceedings Law 1701
• Contributor: shall mean any member of the retirement system who has an account in the annuity savings fund as provided by this article. See N.Y. Education Law 501
• Cross examine: Questioning of a witness by the attorney for the other side.
• Defense attorney: Represent defendants in criminal matters.
• 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.
• dispose of: means to sell, convey, exchange, mortgage, release or lease. See N.Y. Real Property Actions and Proceedings Law 1701
• Docket: A log containing brief entries of court proceedings.
• Dower: A widow
• Eligible governmental entity: shall mean the Lake George park commission or a county enforcing the provisions of this chapter and having an accident reporting system and vessel and related equipment anti-theft program and/or an "I love NY waterways" boating safety program and/or boating noise level enforcement program approved by the commissioner. See N.Y. Navigation Law 79-A
• Employer: shall mean the state of New York, the city, the village, school district board or trustee, or other agency of and within the state by which a teacher is paid. See N.Y. Education Law 501
• Escrow: Money given to a third party to be held for payment until certain conditions are met.
• Ex officio: Literally, by virtue of one's office.
• Executive session: A portion of the Senate's daily session in which it considers executive business.
• 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.
• Fee simple: Absolute title to property with no limitations or restrictions regarding the person who may inherit it.
• Fiduciary: A trustee, executor, or administrator.
• Final average salary: shall mean the average annual compensation earnable as a teacher during the five years of service immediately preceding his date of retirement, or it shall mean the average annual compensation earnable as a teacher during any five consecutive years of state service, said five years to be selected by the applicant prior to date of retirement. See N.Y. Education Law 501
• 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}
• 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
• Hearsay: Statements by a witness who did not see or hear the incident in question but heard about it from someone else. Hearsay is usually not admissible as evidence in court.
• incompetent person: means a person incompetent to manage his affairs of whose property a committee has been appointed pursuant to § 78. See N.Y. Real Property Actions and Proceedings Law 1701
• interest in real property: includes any term, estate or other interest in real property, vested or contingent, of an infant in being, an incompetent person, or a conservatee including an inchoate right of dower and a possibility of reverter, and also the contingent interest of an infant not in being. See N.Y. Real Property Actions and Proceedings Law 1701
• 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}
• Joint tenancy: A form of property ownership in which two or more parties hold an undivided interest in the same property that was conveyed under the same instrument at the same time. A joint tenant can sell his (her) interest but not dispose of it by will. Upon the death of a joint tenant, his (her) undivided interest is distributed among the surviving joint tenants.
• Jurisprudence: The study of law and the structure of the legal system.
• Mortgagor: The person who pledges property to a creditor as collateral for a loan and who receives the money.
• New entrant: shall mean any teacher who is a member of the retirement system except a present teacher. See N.Y. Education Law 501
• Oversight: Committee review of the activities of a Federal agency or program.
• Pension: shall mean the annual payments for life derived from payments made by an employer as provided in this article. See N.Y. Education Law 501
• Pension reserve: shall mean the present value of all payments to be made on account of any pension, or benefit in lieu of any pension, computed upon the basis of such mortality tables as shall be adopted by the retirement board with regular interest. See N.Y. Education Law 501
• Personal property: All property that is not real property.
• Petty offense: A federal misdemeanor punishable by six months or less in prison. ^{Source: U.S. Courts}
• possibility of reverter: means the possibility that upon breach of a condition or termination of an estate by limitation the right of re-entry will vest in, or real property will revert to, an infant, incompetent person or conservatee or his heirs solely or in common with others. See N.Y. Real Property Actions and Proceedings Law 1701
• 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.
• Present teacher: shall mean any teacher who was a teacher on or before the first day of August, nineteen hundred twenty-one, whose membership in the retirement system created by this article has been continuous and

  a. See N.Y. Education Law 501

• Probation: A sentencing alternative to imprisonment in which the court releases convicted defendants under supervision as long as certain conditions are observed.
• Program year: shall mean the calendar year. See N.Y. Navigation Law 79-A
• Recess: A temporary interruption of the legislative business.
• 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}
• Retirement allowance: shall mean the pension plus the annuity. See N.Y. Education Law 501
• Retirement board: shall mean the retirement board provided by section five hundred four of this article. See N.Y. Education Law 501
• Retirement fund: shall mean the state teachers' retirement fund for public school teachers of the state of New York as created by chapter one hundred forty of the laws of nineteen hundred ten, chapter four hundred forty-nine of the laws of nineteen hundred eleven, chapter forty-four of the laws of nineteen hundred fourteen, chapter one hundred three of the laws of nineteen hundred nineteen and chapter one hundred sixty-one of the laws of nineteen hundred twenty-three. See N.Y. Education Law 501
• Retirement system: shall mean the New York state teachers' retirement system provided for in section five hundred two of this article. See N.Y. Education Law 501
• Service: shall mean actual teaching or supervision by the teacher during regular school hours of the day, and shall mean governmental service in the state of New York in another capacity where the teacher was a member of the New York state employees retirement system, and where such service was credited to the teacher in the said New York state employees retirement system. See N.Y. Education Law 501
• State aid: shall mean payments by the state to an eligible governmental entity in accordance with the provisions of this article. See N.Y. Navigation Law 79-A
• Subpoena duces tecum: A command to a witness to produce documents.
• Teacher: shall mean any regular teacher, special teacher, including any school librarian or physical training teacher, principal, vice-principal,

  supervisor,

  supervisory

  principal,

  director, superintendent, city superintendent, assistant city superintendent, district superintendent and other member of the teaching or professional staff of any class, public school, vocational school, truant reformatory school or parental school, and of any or all classes of schools within the state of New York, including schools on the Indian reservation, conducted under the order and superintendence of and wholly or partly at the expense of the New York state education department or of a duly elected board of education, board of school directors or board of trustees of the state or of any city or school district thereof, provided that no person shall be deemed a teacher within the meaning of this article who is not so employed for full time outside vacation periods. See N.Y. Education Law 501

• Testify: Answer questions in court.
• transient dwellings: shall mean and include hotels, lodging houses, boarding and nursery schools, sorority houses, fraternity houses, college and school dormitories, convalescent, old age and nursing homes, and dwellings used for single room occupancy. See N.Y. Multiple Residence Law 50
• Trust account: A general term that covers all types of accounts in a trust department, such as estates, guardianships, and agencies. ^{Source: OCC}
• Usury: Charging an illegally high interest rate on a loan. ^{Source: OCC}
• Veto: The procedure established under the Constitution by which the President/Governor refuses to approve a bill or joint resolution and thus prevents its enactment into law. A regular veto occurs when the President/Governor returns the legislation to the house in which it originated. The President/Governor usually returns a vetoed bill with a message indicating his reasons for rejecting the measure. In Congress, the veto can be overridden only by a two-thirds vote in both the Senate and the House.