Terms Used In New York Laws > Education > Title 2 - School District Organization

• Acquittal:
  1. Judgement that a criminal defendant has not been proved guilty beyond a reasonable doubt.
  2. A verdict of "not guilty."
   
• 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.
• 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.
• Affirmed: In the practice of the appellate courts, the decree or order is declared valid and will stand as rendered in the lower court.
• Allegation: something that someone says happened.
• 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.
• Answer: The formal written statement by a defendant responding to a civil complaint and setting forth the grounds for defense.
• 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.
• Appellate: About appeals; an appellate court has the power to review the judgement of another lower court or tribunal.
• 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
• Arraignment: A proceeding in which an individual who is accused of committing a crime is brought into court, told of the charges, and asked to plead guilty or not guilty.
• 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.
• 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.
• Bank holding company: when used in this article, means any company which (a) directly or indirectly, or through a subsidiary or subsidiaries, owns, controls, or holds with power to vote (i) ten per centum or more of the voting stock of a company which is or becomes a bank holding company by virtue of this article, or (ii) ten per centum or more of the voting stock of a banking institution, or (b) controls in any manner the election of a majority of the directors of (i) a banking institution, or (ii) a company which is or becomes a bank holding company by virtue of this article, or (c) is a company, for the benefit of whose stockholders or members ten per centum or more of the voting stock of a banking institution or of a company which is or becomes a bank holding company by virtue of this article is held, directly or indirectly, by a trustee or trustees, or (d) through a combination of (i) ownership, control or holding, directly or indirectly, of voting stock and (ii) voting stock and held, directly or indirectly, by a trustee or trustees for the benefit of the members or stockholders of such company, if such voting stock is voting stock of one or more banking institutions or of one of more companies which are or become bank holding companies by virtue of this article, as the case may be, is a company which would be a bank holding company if the aggregate of such voting stock were either entirely owned, controlled or held, directly or indirectly, by such company or entirely held, directly or indirectly, by a trustee or trustees for the benefit of the members or stockholders of such company. See N.Y. Banking Law 141
• Banking institution: when used in this article, means a bank, a trust company, a stock-form savings bank or a stock-form savings and loan association. See N.Y. Banking Law 141
• banking institution: shall mean and include banks, trust companies, savings banks, savings and loan associations and foreign banking corporations licensed, pursuant to section twenty-six of this chapter, to maintain a branch in the state, as so defined. See N.Y. Banking Law 190
• banking institution: when used in this article, shall mean any entity authorized by its charter to accept deposits and to make loans. See N.Y. Banking Law 221-B
• 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.
• board: means the board of trustees of the state university of New York. See N.Y. Education Law 390
• board of education: shall mean the trustee, trustees or board of education of any common, union free, central, central high or city school district, or a board of cooperative educational services. See N.Y. Education Law 1980
• Chairman: means the chairman of the dormitory authority. See N.Y. Public Authorities Law 1695
• Chambers: A judge's office.
• chancellor: shall mean the chancellor of the city district. See N.Y. Education Law 2590-A
• city board: shall mean the board of education of the city district. See N.Y. Education Law 2590-A
• city district: shall mean the city school district of the city of New York. See N.Y. Education Law 2590-A
• Clinic: shall mean a facility located either within or outside of a state university health care facility providing services related to the medical education mission of the university, but shall not include state university student health services. See N.Y. Education Law 350
• Codicil: An addition, change, or supplement to a will executed with the same formalities required for the will itself.
• Commissioner: means the commissioner of education of the state of New York. See N.Y. Education Law 340
• 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.
• community board: shall mean the board of education of a community district. See N.Y. Education Law 2590-A
• community council: shall mean the community district education council of a community district established pursuant to section twenty-five hundred ninety-c of this article. See N.Y. Education Law 2590-A
• community district: shall mean a community school district created or to be created within the city district under the provisions of this article. See N.Y. Education Law 2590-A
• Community Reinvestment Act: The Act is intended to encourage depository institutions to help meet the credit needs of the communities in which they operate, including low- and moderate-income neighborhoods. It was enacted by the Congress in 1977. ^{Source: OCC}
• community superintendent: shall mean the superintendent of schools of a community district. See N.Y. Education Law 2590-A
• Company: when used in this article, means any corporation, partnership, trust, unincorporated association, joint stock association or similar organization organized under the laws of the state of New York, or if not so organized, doing business in the state of New York, or any individual residing or doing business in the state of New York, or any combination of individuals which combination is residing or is doing business in the state of New York, any combination of the foregoing which combination is residing or is doing business in the state of New York, or any such individual and any of the foregoing acting in concert, but shall not include (a) any corporation the majority of the stock of which is owned by the United States or by any state unless the superintendent determines that it would be in the public interest to deem such a corporation to constitute a company, or (b) any corporation or community chest, fund, or foundation, organized and operated exclusively for religious, charitable, or educational purposes, no part of the net earnings of which inures to the benefit of any private stockholder or individual, and no substantial part of the activities of which is the carrying on of propaganda, or otherwise attempting to influence legislation unless the superintendent determines that it would be in the public interest to deem such a corporation, community chest, fund, or foundation to constitute a company, or (c) any corporation or partnership owning or controlling stock acquired in connection with an underwriting of securities and which is held only for such period of time as will permit the sale thereof upon a reasonable basis. See N.Y. Banking Law 141
• Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
• comptroller: means the comptroller of the state of New York with respect to the state university or the appropriate fiscal officer with respect to other employers. See N.Y. Education Law 398
• Computerized test: means any test form administered to test subjects by means of a computer. See N.Y. Education Law 340
• Continuance: Putting off of a hearing ot trial until a later time.
• Contract: A legal written agreement that becomes binding when signed.
• Conviction: A judgement of guilt against a criminal defendant.
• 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.
• Credit Score: A number, roughly between 300 and 800, that measures an individual's credit worthiness. The most well-known type of credit score is the FICO score. This score represents the answer from a mathematical formula that assigns numerical values to various pieces of information in your credit report. ^{Source: OCC}
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• Decedent: A deceased person.
• 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.
• 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.
• Dismissal: The dropping of a case by the judge without further consideration or hearing. ^Source:
• district superintendent: shall mean the chief administrative officer of a supervisory district as defined in article forty-five of this chapter. See N.Y. Education Law 1980
• Doing business: when used in this article, shall include the maintenance by a foreign company of a place of business in this state, or the conduct by a foreign company of operations in this state, or the acquisition, owning or holding by a foreign company of any stock or assets of any banking institution or any company which directly or indirectly owns, controls or holds with power to vote ten per centum or more of the voting stock of a banking institution. See N.Y. Banking Law 141
• Donated farm salvage: shall mean an agricultural crop that is unharvested, surplus or unmarketable but otherwise nutritious and edible. See N.Y. Agriculture and Markets Law 217
• Donee: The recipient of a gift.
• Donor: The person who makes a gift.
• Dormitory facilities revenue fund: means the fund established pursuant to § 1680-q of the public authorities law. See N.Y. Education Law 350
• Dormitory facilities revenues: means all moneys, including rents, fees and charges, derived from the use or occupancy of dormitory facilities. See N.Y. Education Law 350
• Dormitory facility: means a dormitory, as such term is defined in paragraph (a) of subdivision two of § 1676 of the public authorities law. See N.Y. Education Law 350
• educational facilities: shall mean land and the improvements thereon for use in connection with any educational activity to be undertaken or provided by the city board or any community council or any facility attendant thereto or any facility necessary, useful or desirable in connection with such activity. See N.Y. Education Law 2590-A
• electing employee: shall mean any eligible employee who exercises his election pursuant to this article to come under the optional retirement program. See N.Y. Education Law 390
• electing employer: means a community college which elects to offer the optional retirement program as herein provided. See N.Y. Education Law 390
• eligible employees: means those employees in positions requiring the performance of educational functions in teacher education, agriculture, home economics, forestry, ceramics, liberal and applied arts and sciences, engineering, technical skills, crafts, business education, labor and industrial relations, medicine, dentistry, veterinary medicine, pharmacy, nursing, law, public affairs, maritime officer training, academic administration, library service, student activities, student personnel service and other professions required to carry on the work of the state university and the colleges, schools, institutes, research centers, facilities and institutions comprising it and of the community colleges. See N.Y. Education Law 390
• employee: means a person employed by the state university, the board of higher education of the city of New York, or a community college established and operated under article one hundred twenty-six of this chapter. See N.Y. Education Law 398
• employer: means the state university of New York, the board of higher education of the city of New York, or a community college established and operated under article one hundred twenty-six of this chapter. See N.Y. Education Law 398
• 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}
• 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.
• 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.
• Executor: A male person named in a will to carry out the decedent
• Extradition: The formal process of delivering an accused or convicted person from authorities in one state to authorities in another state.
• 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.
• Federal Deposit Insurance Corporation: A government corporation that insures the deposits of all national and state banks that are members of the Federal Reserve System. ^{Source: OCC}
• Federal Reserve System: The central bank of the United States. The Fed, as it is commonly called, regulates the U.S. monetary and financial system. The Federal Reserve System is composed of a central governmental agency in Washington, D.C. (the Board of Governors) and twelve regional Federal Reserve Banks in major cities throughout the United States. ^{Source: OCC}
• Fee simple: Absolute title to property with no limitations or restrictions regarding the person who may inherit it.
• Fiduciary: A trustee, executor, or administrator.
• 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.
• Fixed Rate: Having a "fixed" rate means that the APR doesn't change based on fluctuations of some external rate (such as the "Prime Rate"). In other words, a fixed rate is a rate that is not a variable rate. A fixed APR can change over time, in several circumstances:
  • You are late making a payment or commit some other default, triggering an increase to a penalty rate
  • The bank changes the terms of your account and you do not reject the change.
  • The rate expires (if the rate was fixed for only a certain period of time).
• food salvager: as used in this article , means a person engaged in the business of reconditioning, labeling, relabeling, packing, repacking, sorting, cleaning, culling, or by other means salvaging food or food products, single service food containers and utensils, soda straws, paper napkins or any product of a similar nature that may have become damaged, contaminated, adulterated or misbranded as a result of fire, flood, transit wreck, accident or other cause, or by water, smoke, chemicals, or any other adulterating agents. See N.Y. Agriculture and Markets Law 217
• Forbearance: A means of handling a delinquent loan. A
• 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}
• foreign banking corporation: when used in this article, shall mean any banking institution organized under the laws of any jurisdiction other than the United States, any state of the United States or Puerto Rico. See N.Y. Banking Law 221-B
• 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
• Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
• Grace period: The number of days you'll have to pay your bill for purchases in full without triggering a finance charge. ^{Source: Federal Reserve}
• Grand jury: agreement providing that a lender will delay exercising its rights (in the case of a mortgage,
• 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}
• Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
• 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.
• Highly distressed area: means : (a) a census tract or tracts or block numbering area or areas or such census tract or block numbering area contiguous thereto which, according to the most recent census data available, has:
  
  (i) a poverty rate of at least twenty percent for the year to which the data relates or at least twenty percent of the households receiving public assistance; and
  
  (ii) an unemployment rate of at least one and twenty-five one hundredths times the statewide unemployment rate for the year to which the data relates; or
  
  (b) a city, town, village or county within a city with a population of one million or more for which: (i) the ratio of the full value property wealth, as determined by the comptroller for the year nineteen hundred ninety, per resident to the statewide average full value property wealth per resident; and (ii) the ratio of the income per resident, as shown in the nineteen hundred ninety census to the statewide average income per resident; are each fifty-five percent or less of the statewide average. See N.Y. Banking Law 228-B
• 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}
• Indictment: The formal charge issued by a grand jury stating that there is enough evidence that the defendant committed the crime to justify having a trial; it is used primarily for felonies.
• Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
• insurer: shall mean a life insurance corporation, or other corporation subject to department of financial services supervision. See N.Y. Education Law 390
• insurer: means a life insurance corporation or other corporation subject to department of financial services supervision. See N.Y. Education Law 398
• Inter vivos: Transfer of property from one living person to another living person.
• 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 companies: means the NYSBIC and the NYSSBIC collectively. See N.Y. Banking Law 228-B
• Joint meeting: An occasion, often ceremonial, when the House and Senate each adopt a unanimous consent agreement
• Judgement: The official decision of a court finally determining the respective rights and claims of the parties to a suit.
• 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.
• Juror: A person who is on the jury.
• lawyer: shall mean an attorney or counselor governed by Article 15 of the judiciary law, who receives remuneration or other compensation from a school district or board of cooperative educational services in exchange for legal services provided to such district or board. See N.Y. Education Law 2050
• 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}
• Legacy: A gift of property made by will.
• 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.
• local sponsor: means any city, county, intermediate school district, or school district approved by the board, sponsoring or participating in the establishment or operation of a community college. See N.Y. Education Law 390
• Majority leader: see Floor Leaders
• Minority leader: See Floor Leaders
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• mortgage: shall include housing loans as defined below. See N.Y. Public Authorities Law 2402
• Mortgage loan: A loan made by a lender to a borrower for the financing of real property. ^{Source: OCC}
• Mortgagee: The person to whom property is mortgaged and who has loaned the money.
• Mortgagor: The person who pledges property to a creditor as collateral for a loan and who receives the money.
• 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}
• Nolo contendere: No contest-has the same effect as a plea of guilty, as far as the criminal sentence is concerned, but may not be considered as an admission of guilt for any other purpose.
• NYSBIC: means the New York small business investment company which shall be organized and operated in conformity with Section 301(c) and applicable regulations. See N.Y. Banking Law 228-B
• NYSSBIC: means the New York specialized small business investment company which shall be organized and operated in conformity with Section 301(d) and applicable regulations. See N.Y. Banking Law 228-B
• 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.
• optional retirement program: means the retirement program established pursuant to this article. See N.Y. Education Law 390
• Oversight: Committee review of the activities of a Federal agency or program.
• Owning bank holding company: when used in this article with respect to a subsidiary trust company, means the bank holding company which owns all of the outstanding voting stock of such subsidiary trust company. See N.Y. Banking Law 150
• parent: shall mean a person in parental relation to a child, as that phrase is defined in subdivision ten of section two of this chapter. See N.Y. Education Law 2590-A
• Part: means each portion of a test for which a score is calculated. See N.Y. Education Law 340
• 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.
• Personal property: All property that is not real property.
• Plaintiff: The person who files the complaint in a civil lawsuit.
• Plea: In a criminal case, the defendant's statement pleading "guilty" or "not guilty" in answer to the charges, a declaration made in open court.
• 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.
• Preliminary hearing: A hearing where the judge decides whether there is enough evidence to make the defendant have a trial.
• Probable cause: A reasonable ground for belief that the offender violated a specific law.
• Probation: A sentencing alternative to imprisonment in which the court releases convicted defendants under supervision as long as certain conditions are observed.
• Probation officers: Screen applicants for pretrial release and monitor convicted offenders released under court supervision.
• project: shall mean , with respect to an educational facilities capital plan, (a) the performance, at a specified educational facility, of one or more program elements, as defined in paragraph a, b, c or d of subdivision two of section twenty-five hundred ninety-p of this article; or (b) the performance of the program elements defined in paragraphs f and g of such subdivision or any system replacement identified in paragraph e of such subdivision. See N.Y. Education Law 2590-A
• Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government.
• Public law: A public bill or joint resolution that has passed both chambers and been enacted into law. Public laws have general applicability nationwide.
• pure honey: as used in this article , shall mean the nectar of flowers that has been transformed by, and is the natural product of the honey-bee, taken from the honeycomb and marketed in a liquid, candied or granulated condition. See N.Y. Agriculture and Markets Law 205
• 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}
• registered voter: shall mean an elector of the city of New York under the election law. See N.Y. Education Law 2590-A
• 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.
• representative: shall mean any person or entity engaging in any activity in this state for or on behalf of a foreign banking corporation, provided that such activity is not otherwise permitted by law. See N.Y. Banking Law 221-B
• Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.
• salary: means all amounts paid by or for the state as compensation for services rendered by an eligible employee holding a position with the state university or by or for a community college as compensation for services rendered by an eligible employee holding a position at such college. See N.Y. Education Law 390
• salary: means that amount fixed by or pursuant to law and paid by or for an employer to an employee as compensation for services rendered by the employee to the employer. See N.Y. Education Law 398
• school district: shall mean any common, union free, central, central high or city school district, or a board of cooperative educational services. See N.Y. Education Law 1980
• 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.
• state university: means the state university of New York and the term "community college" means a college established and operated under article one hundred twenty-six of this chapter. See N.Y. Education Law 390
• State university health care facility: shall mean a hospital, as defined in § 2801 of the public health law, operated by the state university, or a clinic, as defined in subdivision six of this section, of a state university health sciences center at Brooklyn, Buffalo, Stony Brook and Syracuse, or the College of Optometry. See N.Y. Education Law 350
• Statute: A law passed by a legislature.
• Statute of limitations: A law that sets the time within which parties must take action to enforce their rights.
• Subpoena: A command to a witness to appear and give testimony.
• Subsidiary: when used in this article, means (a) any company ten per centum or more of whose voting stock is directly or indirectly, or through a subsidiary or subsidiaries, owned, controlled, or held with power to vote, by a bank holding company; or (b) any company the election of a majority of whose directors is controlled in any manner by a bank holding company; or (c) any company ten per centum or more of whose voting stock is directly or indirectly owned, controlled, or held with power to vote, by a trustee or trustees for the benefit of the stockholders or members of a bank holding company; or (d) any company at least ten per centum of the voting stock of which is directly or indirectly, or through a subsidiary or subsidiaries, owned, controlled or held with power to vote by a combination of a bank holding company and by a trustee or trustees for the benefit of the stockholders or members of such bank holding company. See N.Y. Banking Law 141
• subsidiary: when used in this article, shall each have the same meaning specified in section one hundred forty-one of this chapter. See N.Y. Banking Law 150
• Subsidiary trust company: when used in this article, means a trust company which is subject to the provisions of this article. See N.Y. Banking Law 150
• Summons: Another word for subpoena used by the criminal justice system.
• Temporary restraining order: Prohibits a person from an action that is likely to cause irreparable harm. This differs from an injunction in that it may be granted immediately, without notice to the opposing party, and without a hearing. It is intended to last only until a hearing can be held.
• test: means any test that is given in New York at the expense of the test subject and designed for use and used in the process of selection for post-secondary or professional school admissions. See N.Y. Education Law 340
• Test agency: means any organization, association, corporation, partnership, or individual or person that develops, sponsors or administers a test. See N.Y. Education Law 340
• Test form: means the test booklet or instrument used for each part of each test. See N.Y. Education Law 340
• Test subject: means an individual to whom a test is administered. See N.Y. Education Law 340
• Test year: means the twelve-month period commencing September first during which the test agency administers a particular test. See N.Y. Education Law 340
• Testator: A male person who leaves a will at death.
• Testify: Answer questions in court.
• Testimony: Evidence presented orally by witnesses during trials or before grand juries.
• Title III: means Title III of the Small Business Investment Act of 1958, United States Pub. See N.Y. Banking Law 228-B
• 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.
• Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence.
• Trust office: when used in this article with respect to a subsidiary trust company, means an office of the subsidiary trust company maintained for the purpose of conducting its business. See N.Y. Banking Law 150
• Trustee: A person or institution holding and administering property in trust.
• Trustor: The person who makes or creates a trust. Also known as the grantor or settlor.
• 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}
• University centers: shall mean the university centers at Albany, Binghamton, Buffalo and Stony Brook. See N.Y. Education Law 350
• Usury: Charging an illegally high interest rate on a loan. ^{Source: OCC}
• Variable Rate: Having a "variable" rate means that the APR changes from time to time based on fluctuations in an external rate, normally the Prime Rate. This external rate is known as the "index." If the index changes, the variable rate normally changes. Also see Fixed Rate.
• Venue: The geographical location in which a case is tried.
• Verdict: The decision of a petit jury or a judge.
• 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.
• Victim Impact Statement: A written or spoken statement by the victim or his or her representative about the physical, emotional, and financial impact of a crime on the victim. The statement is given to the court before sentencing.
• Voting shareholders: means those shareholders of the NYSBIC or the NYSSBIC that contribute to the capitalization and ongoing funding of the investment companies. See N.Y. Banking Law 228-B
• Writ: A formal written command, issued from the court, requiring the performance of a specific act.