§ 103. Definitions. As used in this chapter

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(a) "Abandoned property fund" means the abandoned property fund established by § 95 of the state finance law, as such section was added by a chapter of the laws of nineteen hundred forty-four, entitled "An act to amend the state finance law, in relation to establishing an abandoned property fund and providing for the transfer of certain moneys and property to such fund, and to amend the surrogate's court act in relation to payments from such fund."

(b) "Abandoned property heretofore paid to the state" means, unless a more limited meaning clearly appears from the context, all money or other personal property collected or received by the state comptroller or the department of taxation and finance pursuant to the provisions of

(i) section twenty-two hundred twenty-two of the surrogate's court procedure act;

(ii) subdivision two of section five, sections thirty-two, one hundred twenty-seven, one hundred seventy, two hundred fifty-seven and three hundred fourteen of the banking law;

(iii) subsection (c) of § 7434 of the insurance law;

(iv) subdivision four of § 66-c of the public service law;

(v) § 13-c of the transportation corporations law;

(vi) sections eighty-four, ninety and ninety-two of the state finance law;

(vii) § 424 of the vehicle and traffic law;

(viii) § 138 of the navigation law;

(ix) and any earlier provision of law which embodies provisions which are substantially the same as or equivalent to those contained in such sections.

(c) "Banking organizations" means all banks, trust companies, private bankers, savings banks, industrial banks, safe deposit companies, savings and loan associations, credit unions and investment companies in this state, organized under or subject to the provisions of the laws of this state, or of the United States, including entities organized under section six hundred eleven of title twelve of the United States code, but does not include federal reserve banks. For the purposes of this chapter, the term "banking organization" shall also include any corporation or other organization which is a wholly or partially owned subsidiary of any banking organization, banking corporation, or bank holding company, which performs any or all of the functions of a banking organization, or any corporation or other organization which performs such functions pursuant to the terms of a contract with any banking organization.

(d) "Infant" means a person who has not attained the age of eighteen years. "Infancy" means the state of being an infant.

(e) "Life insurance corporation" means any insurer corporation organized under the laws of this state or any foreign corporation authorized to do either one or both kinds of insurance business authorized in paragraphs one and two of subsection (a) of § 1113 of the insurance law, as amended from time to time. The term life insurance corporation shall include a fraternal benefit society as defined in § 4501 of the insurance law.

(f) "Utility services" means gas, electricity or steam supplied by a gas, electric, gas and electric or district steam corporation, telephone, telegraph or other service furnished by a telephone, telegraph or telegraph and telephone corporation, water supplied by a waterworks corporation, or appliances, equipment, installations, fixtures or appurtenances rented by any such corporation.

(g) "Gift certificate" shall mean a written promise or electronic payment device that: (i) is usable at a single merchant or an affiliated group of merchants that share the same name, mark, or logo, or is usable at multiple, unaffiliated merchants or service providers; and (ii) is issued in a specified amount; and (iii) may or may not be increased in value or reloaded; and (iv) is purchased and/or loaded on a prepaid basis for the future purchase or delivery of any goods or services; and (v) is honored upon presentation. Gift certificate shall not include an electronic payment device linked to a deposit account, or prepaid telephone calling cards regulated under § 92-f of the public service law. Gift certificate also shall not include flexible spending arrangements as defined in Section 106(c)(2) of the Internal Revenue Code, 26 U.S.C. § 106(c)(2); flexible spending accounts subject to Section 125 of the Internal Revenue Code, 26 U.S.C. § 125; Archer MSAs as defined in Section 220(d) of the Internal Revenue Code, 26 U.S.C. § 220(d); dependent care reimbursement accounts subject to Section 129 of the Internal Revenue Code, 26 U.S.C. § 129; health savings accounts subject to Section 223(d) of the Internal Revenue Code, 26 U.S.C. § 223(d), as amended by Section 1201 of the Medicare Prescription Drug, Improvement, and Modernization Act of 2003, Pub. L. No. 108-173; or similar accounts from which, under the Internal Revenue Code and its implementing regulations, individuals may pay medical expenses, health care expenses, dependent care expenses, or similar expenses on a pretax basis. Gift certificate also shall not include a prepaid discount card or program used to purchase identified goods or services at a price or percentage below the normal and customary price; provided that the expiration date of the prepaid discount card or program is clearly and conspicuously disclosed. Gift certificate also shall not include payroll cards or other electronic payment devices which are linked to a deposit account and which are given in exchange for goods or services rendered.

(h) "Virtual currency" shall have the same meaning as set forth in 23 NYCRR 200.2(p).

(i) "Virtual currency business activity" shall have the same meaning as set forth in 23 NYCRR 200.2(q).