Terms Used In N.Y. General City Law PART 1-6

• Academic year: shall mean the regular school year beginning July first and ending June thirtieth. See N.Y. Education Law 651
• Account owner: shall mean a person who enters into a tuition savings agreement pursuant to the provisions of this article, including a person who enters into such an agreement as a fiduciary or agent on behalf of a trust, estate, partnership, association, company or corporation. See N.Y. Education Law 695-B
• Adopter: means any faculty member or academic department at institutions of higher learning responsible for considering and choosing textbooks and/or supplemental materials to be utilized in connection with the accredited courses taught at institutions of higher education. See N.Y. Education Law 720
• Adoption: means the delivery to any natural person eighteen years of age or older, for the limited purpose of harboring a pet, of any dog or cat, seized or surrendered. See N.Y. Agriculture and Markets Law 350
• 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.
• 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.
• Animal: as used in this article , includes every living creature except a human being;
  
  2. See N.Y. Agriculture and Markets Law 350
• Animal: means a dog or a cat. See N.Y. Agriculture and Markets Law 400
• Apiary: shall mean any location used for raising honey bees or producing honey or other bee related products. See N.Y. Agriculture and Markets Law 173-A
• 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
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Authorized agency: shall mean an authorized agency as defined in the social services law and, for the purpose of this article, shall include such corporations incorporated or organized under the laws of this state as may be specifically authorized by their certificates of incorporation to receive children for purposes of adoption. See N.Y. Domestic Relations Law 109
• 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.
• Beekeeper: shall mean any individual or entity that maintains managed honey bees for profit, research, recreational, or educational purposes. See N.Y. Agriculture and Markets Law 173-A
• 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}
• Board: shall mean the board of trustees of the New York state higher education services corporation. See N.Y. Education Law 651
• borrower: shall mean (i) a student who is a resident of New York state attending, or accepted for enrollment at, an eligible college, or (ii) the parent, legal guardian, or sponsor, as defined by the corporation in regulation, of a student attending, or accepted for enrollment at, an eligible college who is a resident of New York state, and who obtains an education loan from a lending institution to pay for or finance higher education expenses under this program. See N.Y. Education Law 690
• Brood comb: shall mean the beeswax structure of cells where the queen bee lays eggs in which immature bees are reared. See N.Y. Agriculture and Markets Law 173-A
• Chambers: A judge's office.
• Colony: shall mean any production unit of bees. See N.Y. Agriculture and Markets Law 173-A
• Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
• Comptroller: shall mean the comptroller of the state of New York. See N.Y. Education Law 695-B
• Consumer: means any individual purchasing an animal from a pet dealer. See N.Y. Agriculture and Markets Law 400
• 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.
• Corporation: shall mean the New York state higher education services corporation. See N.Y. Education Law 695-B
• Corporation: shall mean the New York state higher education services corporation. See N.Y. Education Law 651
• Counterclaim: A claim that a defendant makes against a plaintiff.
• cruelty: includes every act, omission, or neglect, whereby unjustifiable physical pain, suffering or death is caused or permitted. See N.Y. Agriculture and Markets Law 350
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• Decedent: A deceased person.
• Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
• Designated beneficiary: shall mean , with respect to an account or accounts, the individual designated as the individual whose higher education expenses are expected to be paid from the account or accounts. See N.Y. Education Law 695-B
• 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:
• Docket: A log containing brief entries of court proceedings.
• Donee: The recipient of a gift.
• Education loan: shall mean any loan that is made under this program to finance or refinance higher education expenses at an eligible college. See N.Y. Education Law 690
• Eligible co-signer: shall mean a parent, legal guardian or otherwise credit worthy individual over twenty-one years of age who satisfies applicable credit criteria approved by the corporation and is a resident of New York state. See N.Y. Education Law 690
• Eligible college: shall mean a post-secondary institution, located within New York state, eligible for funds under Title IV of the Higher Education Act of nineteen hundred sixty-five, as amended, or successor statute offering a two-year, four-year, graduate or professional degree granting or certificate program. See N.Y. Education Law 690
• Eligible educational institution: shall mean (a) any institution of higher education defined as an eligible educational institution in section 529(e)(5) of the Internal Revenue Code of 1986, as amended, or (b) any apprenticeship program described in section 529(c)(8) of the Internal Revenue Code of 1986, as amended. See N.Y. Education Law 695-B
• 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.
• Executor: A male person named in a will to carry out the decedent
• 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.
• family tuition account: shall mean an individual savings account established in accordance with the provisions of this article. See N.Y. Education Law 695-B
• Federal student aid programs: shall mean the programs of the United States government making financial aid available to pay for the cost of attending post-secondary institutions and established under Title IV of the Higher Education Act of nineteen hundred sixty-five, as amended, or any successor statute. See N.Y. Education Law 651
• Fiduciary: A trustee, executor, or administrator.
• Financial organization: shall mean an organization authorized to do business in the state of New York and (a) which is an authorized fiduciary to act as a trustee pursuant to the provisions of an act of congress entitled "Employee Retirement Income Security Act of 1974" as such provisions may be amended from time to time, or an insurance company; and (b)(i) is licensed or chartered by the department of financial services, (ii) is chartered by an agency of the federal government, (iii) is subject to the jurisdiction and regulation of the securities and exchange commission of the federal government, or (iv) is any other entity otherwise authorized to act in this state as a trustee pursuant to the provisions of an act of congress entitled "Employee Retirement Income Security Act of 1974" as such provisions may be amended from time to time. See N.Y. Education Law 695-B
• 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).
• Forbearance: A means of handling a delinquent loan. A
• 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
• 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}
• 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.
• Hemp: means the plant Cannabis sativa L. See N.Y. Agriculture and Markets Law 505
• Higher education expenses: shall mean the cost of attendance at an eligible college and shall include tuition and fees, books, room and board, and other educationally related expenses, as determined by the corporation. See N.Y. Education Law 690
• Holder: shall mean , with respect to an education loan: (i) a lender; (ii) a public benefit corporation authorized to finance the purchase or making of education loans pursuant to the public authorities law; or (iii) any assignee of such lender or public benefit corporation. See N.Y. Education Law 690
• 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.
• Institution of higher education: means :
  
  (a) any of the colleges and universities described in subdivision three of § 352 of the education law;
  
  (b) a college established and operated pursuant to the provisions of Article one hundred twenty-six of the education law, and providing two-year or four-year post-secondary programs in general and technical educational subjects and receiving financial assistance from the state;
  
  (c) the city university of New York, as defined in subdivision two of § 6202 of the education law; and
  
  (d) a not-for-profit two or four-year university or college given the power to confer associate, baccalaureate or higher degrees in this state by the legislature or by the regents under Article five of the education law. See N.Y. Agriculture and Markets Law 505
• Institution of higher education: means any institution of higher education, recognized and approved by the regents of the university of the state of New York, which provides a course of study leading to the granting of a post-secondary degree or diploma. See N.Y. Education Law 720
• 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}
• Intestate: Dying without leaving a will.
• Judge: shall mean a judge of the family court of any county in the state. See N.Y. Domestic Relations Law 109
• 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.
• Lawful custody: shall mean a custody (a) specifically authorized by statute or (b) pursuant to judgment, decree or order of a court or (c) otherwise authorized by law. See N.Y. Domestic Relations Law 109
• 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}
• Legatee: A beneficiary of a decedent
• Lend: shall include one or more of the following services: the origination, disbursement, servicing, and/or collection of any student or parent education loan made by or on behalf of a lending institution a government entity, or an institution of higher education for the purpose of paying for higher education expenses as well as serving as a secondary market for these loans. See N.Y. Education Law 651
• lender: shall mean any entity that itself or through an affiliate originates education loans, other than an entity authorized to finance the purchase or making of education loans through the issuance of bonds pursuant to the public authorities law. See N.Y. Education Law 690
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• License: means a license, permit or registration issued pursuant to this article. See N.Y. Agriculture and Markets Law 505
• Lien: A claim against real or personal property in satisfaction of a debt.
• Management contract: shall mean the contract executed by the comptroller and a financial organization selected to act as a depository and manager of the program. See N.Y. Education Law 695-B
• Minority leader: See Floor Leaders
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• Nonqualified withdrawal: shall mean a withdrawal from an account but shall not mean:
  
  a. See N.Y. Education Law 695-B
• 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.
• Oversight: Committee review of the activities of a Federal agency or program.
• 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 any individual, corporation, partnership, association, municipality, or other legal entity. See N.Y. Agriculture and Markets Law 400
• Personal property: All property that is not real property.
• pet: means any dog or cat, and shall also mean any other domesticated animal normally maintained in or near the household of the owner or person who cares for such other domesticated animal. See N.Y. Agriculture and Markets Law 350
• Pet Dealer: means any person who engages in the sale or offering for sale of more than nine animals per year for profit to the public. See N.Y. Agriculture and Markets Law 400
• Pleadings: Written statements of the parties in a civil case of their positions. In the federal courts, the principal pleadings are the complaint and the answer.
• President: shall mean the president of the corporation. See N.Y. Education Law 651
• Private-placement adoption: shall mean any adoption other than that of a minor who has been placed for adoption by an authorized agency. See N.Y. Domestic Relations Law 109
• Probation: A sentencing alternative to imprisonment in which the court releases convicted defendants under supervision as long as certain conditions are observed.
• Processing of hemp in connection with its growing and cultivation: means the growing, cultivation, cloning, harvesting, drying, curing, grinding and trimming of hemp plants. See N.Y. Agriculture and Markets Law 505
• Program: shall mean the New York state college choice tuition savings program established pursuant to this article. See N.Y. Education Law 695-B
• Program: shall mean the New York Higher Education Loan Program established by this article. See N.Y. Education Law 690
• Program manager: shall mean a financial organization selected by the comptroller to act as a depository and manager of the program. See N.Y. Education Law 695-B
• Public law: A public bill or joint resolution that has passed both chambers and been enacted into law. Public laws have general applicability nationwide.
• Publisher: means any publishing house, publishing firm, or publishing company that publishes textbooks and supplemental materials. See N.Y. Education Law 720
• Qualified higher education expenses: shall mean any qualified higher education expense included in section 529 of the Internal Revenue Code of 1986, as amended. See N.Y. Education Law 695-B
• Qualified withdrawal: shall mean a withdrawal from an account to pay the qualified higher education expenses of the designated beneficiary of the account at an eligible educational institution. See N.Y. Education Law 695-B
• Queen: shall mean the single reproductive female in a colony of honey bees. See N.Y. Agriculture and Markets Law 173-A
• 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.
• 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.
• Student: shall mean any individual who is enrolled at least half-time, as defined by the commissioner, in a two year, four year, graduate or professional degree granting or certificate program at an eligible college. See N.Y. Education Law 690
• Subpoena: A command to a witness to appear and give testimony.
• Supplemental materials: means materials that supplement the primary textbook or textbooks that come in the form of another book, online technologies, a workbook, CD-ROM, or any other format, and that can be used by a faculty member or a student during the teaching of a course. See N.Y. Education Law 720
• Surrogate: shall mean the surrogate of any county in the state and any other judicial officer while acting in the capacity of surrogate. See N.Y. Domestic Relations Law 109
• 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.
• Textbook: means any textbook that is adopted for a course, as determined by the faculty member or members or entity charged with choosing that textbook. See N.Y. Education Law 720
• 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.
• Trustee: A person or institution holding and administering property in trust.
• Tuition savings agreement: shall mean an agreement between the comptroller or a financial organization and the account owner. See N.Y. Education Law 695-B
• 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}
• 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.