Terms Used In New York Laws > Insurance > Article 79 - Service Contracts

• Administrator: means any person designated by a provider to be responsible for administration of service contracts, including servicing, claims management and processing, recordkeeping, customer service and collection of fees. See N.Y. Insurance Law 7902
• 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
• charitable organization: shall mean entities established pursuant to the not-for-profit corporation law or otherwise established pursuant to law. See N.Y. Social Services Law 42
• Contract: A legal written agreement that becomes binding when signed.
• contract holder: means a person who is the purchaser or holder of a service contract. See N.Y. Insurance Law 7902
• 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.
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• Dependent: A person dependent for support upon another.
• Eligible applicant: shall mean a not-for-profit corporation or charitable organization which operates single room occupancy units qualifying as an eligible project. See N.Y. Social Services Law 45
• Eligible cost: shall mean the cost to deliver one or more services to eligible residents to assist such residents to live independently, including information and referral, resident services coordination, crisis intervention, and other like services. See N.Y. Social Services Law 45
• Eligible project: shall mean those single room occupancy units occupied by eligible residents, within a building or portion thereof which is operated by an eligible applicant. See N.Y. Social Services Law 45
• Eligible resident: shall mean a person residing in a single room occupancy unit who is in need of services to live independently. See N.Y. Social Services Law 45
• 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.
• 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.
• Homeless project: shall mean a specific facility, including lands, buildings and improvements acquired, constructed, renovated or rehabilitated and operated by a not-for-profit corporation, charitable organization, wholly owned subsidiary of a not-for-profit corporation or of a charitable organization, public corporation or a municipality to increase the availability of housing for homeless persons, which may include other non-housing services such as but not limited to dining, recreational, sanitary, social, medical and mental health services as may be deemed by the commissioner to be essential to such a project. See N.Y. Social Services Law 42
• In-kind expenditures: shall mean the cash value of eligible costs that are not reimbursed under this title and may include but not be limited to materials, equipment, space or paid or volunteer staff. See N.Y. Social Services Law 45
• 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}
• Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
• 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.
• 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}
• 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: means an individual, partnership, corporation, incorporated or unincorporated association, joint stock company, reciprocal, syndicate or any similar entity or combination of entities acting in concert. See N.Y. Insurance Law 7902
• Premium: means the consideration paid to an insurer for a service contract reimbursement insurance policy. See N.Y. Insurance Law 7902
• Provider: means a person who markets, sells, offers for sale, issues, makes or proposes to make or administers a service contract, and who is contractually obligated to provide service under a service contract. See N.Y. Insurance Law 7902
• Provider fee: means the total purchase price or consideration paid for a service contract. See N.Y. Insurance Law 7902
• Public corporation: shall mean a municipal corporation, a district corporation, or a public benefit corporation. See N.Y. Social Services Law 42
• Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
• 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.
• Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.
• Service contract: means a contract or agreement, for a separate or additional consideration, for a specific duration to perform the repair, replacement or maintenance of property, or indemnification for repair, replacement or maintenance, due to a defect in materials or workmanship or wear and tear, with or without additional provision for indemnity payments for incidental damages, provided any such indemnity payment per incident shall not exceed the purchase price of the property serviced. See N.Y. Insurance Law 7902
• Service contract reimbursement insurance policy: means a policy of service contract reimbursement insurance. See N.Y. Insurance Law 7902
• Service of process: The service of writs or summonses to the appropriate party.
• Single room occupancy unit: shall mean a private room providing living and sleeping space for no more than two persons with access to bathing and toilet facilities, within a building or portion thereof which is operated by an eligible applicant; provided, however, that in no event shall such unit be located in:
  
  (a) hotels, motels or other dwellings occupied transiently;
  
  (b) shelters for families or adults, as defined by the commissioner;
  
  (c) residential facilities or institutions which are required to be licensed by any state agency;
  
  (d) college or school dormitories;
  
  (e) clubhouses;
  
  (f) housing intended for use primarily or exclusively by the employees of a single company or institution; or
  
  (g) convents or monasteries. See N.Y. Social Services Law 45
• Systems: means plumbing, electrical, heating, cooling, ventilation, and other systems used in residential real property, including without limitation:
  
  (A) plumbing systems which include gas supply lines and fittings, water supply, waste and vent pipes and their fittings, septic tanks and their drain fields, water, gas and sewer service piping, and their extensions to the tie-in of a public utility connection, or on-site well and sewage disposal system;
  
  (B) electrical systems which include all wiring, electrical boxes, switches, outlets, and connections up to the public utility connection; and
  
  (C) heating, cooling and ventilation systems which include all duct work, steam, water and refrigerant lines, registers, convectors, radiation elements and dampers. See N.Y. Insurance Law 7902
• 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}