N.Y. Banking Law 635 – Definitions
Current as of: 2023 | Check for updates
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Terms Used In N.Y. Banking Law 635
- 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.
- License: when used in this article means any license duly issued by the superintendent pursuant to the provisions of article nine, nine-A, eleven-B, twelve-B, twelve-C, twelve-D or thirteen-B of this chapter or any registration certificate issued by the superintendent pursuant to the provisions of article twelve-D of this chapter. See N.Y. Banking Law 635
- 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: when used in this article means an individual, partnership, corporation, unincorporated association, joint stock association, trust or other group, however organized. See N.Y. Banking Law 635