Terms Used In N.Y. General City Law PART 6

• 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.
• Hemp: means the plant Cannabis sativa L. See N.Y. Agriculture and Markets Law 505
• 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.