Terms Used In New York Laws > Banking > Article 8-A - Safe Deposit Business

• 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.
• Answer: The formal written statement by a defendant responding to a civil complaint and setting forth the grounds for defense.
• 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
• Arrest: Taking physical custody of a person by lawful authority.
• Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
• Commissioner: means the commissioner of general services. See N.Y. Public Buildings Law 61
• 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.
• Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
• Contract: A legal written agreement that becomes binding when signed.
• 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.
• Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
• Embezzlement: In most states, embezzlement is defined as theft/larceny of assets (money or property) by a person in a position of trust or responsibility over those assets. Embezzlement typically occurs in the employment and corporate settings. ^{Source: OCC}
• 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.
• Facilities: shall mean and include those facilities as defined in the provisions of the state building construction code relating to facilities for the physically handicapped. See N.Y. Public Buildings Law 50
• Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
• 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}
• lessor: means a banking organization, foreign banking corporation or a national banking association authorized to engage in the safe deposit business. See N.Y. Banking Law 332
• Lien: A claim against real or personal property in satisfaction of a debt.
• Municipal: means a city, town, county, village, school district or special district as defined by § 102 of the real property tax law. See N.Y. Public Buildings Law 50
• National Register: means the national register of historic places authorized by the National Historic Preservation Act of 1966. See N.Y. Public Buildings Law 61
• 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.
• Personal property: All property that is not real property.
• Physically handicapped: means
  
  (a) impairment requiring confinement to a wheel chair; or
  
  (b) impairment causing difficulty or insecurity in walking or climbing stairs or requiring the use of braces, crutches or other artificial supports; or impairment caused by amputation, arthritis, spastic condition or pulmonary, cardiac or other ills rendering the individual semi-ambulatory; or
  
  (c) total or partial impairment of hearing or sight causing insecurity or likelihood of exposure to danger in public places; or
  
  (d) impairment due to conditions of aging and incoordination. See N.Y. Public Buildings Law 50
• Public building: means any building or portion thereof, other than a privately owned residential structure, public housing structure, police, fire or correction structure, constructed wholly or partially with state or municipal funds, whether tax funds, funds obtained through bond issues or grants or loans under any state law, which is likely to be used by physically handicapped persons, including, but not limited to theaters, concert halls, auditoriums, museums, schools, libraries, recreation facilities, transportation terminals and stations, factories, office buildings and business establishments. See N.Y. Public Buildings Law 50
• Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
• safe deposit box: means a vault, safe deposit box or other receptacle. See N.Y. Banking Law 332
• State: shall mean the state of New York and any state board, bureau, commission, department, authority, division, officer or public benefit corporation. See N.Y. Public Buildings Law 50
• State agency: means any state department, officer, board, commission, agency, or a public authority or public benefit corporation at least one of whose members is appointed by the governor. See N.Y. Public Buildings Law 61
• State register: means the state register of historic places established pursuant to section 14. See N.Y. Public Buildings Law 61
• Statute: A law passed by a legislature.
• Testify: Answer questions in court.
• Testimony: Evidence presented orally by witnesses during trials or before grand juries.
• Trustee: A person or institution holding and administering property in trust.
• 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}
• Venue: The geographical location in which a case is tried.